The Facebook company also gets the new ticker symbol. Meta Platforms Inc. announced that it will change the ticker symbol from FB to META before the market opens on June 9th. Meta stocks will continue to be traded on Nasdaq.
The new ticker follows last year's change of company name to Meta. Metaverse is a brand change that emphasizes the potential of the digital world where people exist in immersive, virtual, and shared spaces.
Meta's stock has lost more than one-third of its value since the company announced its name change, lagging behind the Nasdaq Composite Index, which lost about one-fifth of its value over the same period.
Meta, which powers Facebook, Instagram, WhatsApp, and other products, has a market capitalization of approximately $530 billion. Launched in May 2012, the company is one of the top 10 companies in the S&P 500 companies by market value.