Facebook will not change stock ticker, after FB re-branded to META


Four years ago Mark Zuckerberg and Priscilla Chan’s philanthropy organization made its first acquisition in a bid to make it easier for scientists to search, read and tie together more than 26 million science research papers. Back then they acquired Meta.COM domain and an AI-powered research search engine startup.

Back then Meta co-founder and CEO Sam Molyneux wrote that “Going forward, our intent is not to profit from Meta’s data and capabilities; instead we aim to ensure they get to those who need them most, across sectors and as quickly as possible, for the benefit of the world.”

But things have changed in the meantime. Mark Zuckerberg announced today that the company formerly known as Facebook will now become Meta.

“To reflect who we are and what we hope to build, I am proud to announce that starting today, our company is now Meta. Our mission remains the same — it’s still about bringing people together. Our apps and our brands — they’re not changing either,” Zuckerberg said. “From now on, we’re going to be metaverse-first, not Facebook-first.”

And on top of that META, a scientific search engine, will sunset March 31, 2022. Looks like there is no need anymore for a search engine that will help scholars.

Following the latest news FB stock gained more than 1.5% during market hours, but lost that during after-hours trading session. But Facebook stock has been performing well this year, no matter the bad new in the recent weeks. Shares of Facebook, Inc Stock (NASDAQ:FB) will continue to be traded under the same ticker symbols under FB.