Facebook and Instagram parent company to change its stock listing to META

When the company, earlier known as Facebook, announced its rebranding plan last October, it also announced a new stock ticker. At the time, executives said that after ten years as FB, its NASDAQ listing would move to MVRS for the metaverse. However, after the investment fund listed on META vacated the token in January, Meta Platforms quickly confirmed that it would use META instead and announced its first-ever drop in daily active users. It has now filed documents saying the change will be made official before the market opens on June 9.

At present, people still think of Meta as the home of Facebook, WhatsApp, and Instagram, but the plan is to make it more than just those social media pillars. Unfortunately, changing the company name hasn't been enough for all investors to buy into Mark Zuckerberg's vision. His patience is particularly short given the mix of "headwinds" — competitors, regulators and a pandemic-hit economy — that company executives refer to when discussing various issues affecting its growth in users and profitability.

Developing content for the metaverse and the augmented and virtual reality team that will allow people to experience it is costing the company billions of dollars right now, with the potential benefits still years away. But as the new footer of his company's statement says: "Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology." One more branded item to take home might not hurt, at least while its next-gen headphones only make cameo appearances in blurry demo images.