Meta Platforms has announced that its Class A common shares will be traded on the Nasdaq under the ticker symbol ‘META.’
The announcement came ahead of the market opening scheduled for June 9. The new symbol ‘META’ will replace the company’s current ticket symbol ‘FB’ which has been in use since the company’s initial public offering in 2012.
A ticker symbol, also known as a stock symbol, is a unique one to five letter code used by exchanges to identify a company. It is identified as a symbol or sign representing certain assets or securities listed on a stock exchange.
The company, formerly known as Facebook, changed its name to Meta Platforms in October 2021 in order to reposition the company and bring its numerous platforms under one roof.
The name Meta was coined to help the company build the “Metaverse,” a shared virtual environment that it relies on as a successor to the mobile internet.
The sources for this piece include an article in Reuters.