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Facebook Stock Change to Meta

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Facebook Stock Change to Meta

Meta Platforms, formerly known as Facebook and representing the first company of the FAANG group of stocks is facing the heat with its share price down to levels seen during the Covid-19 pandemic. In 2022, the share has lost 56% in value and is close to its Covid-19 lows. On March 16, 2020, Meta’s stock price touched a low of $146.01. On Monday, Meta closed at $148, a level last seen in March 2020 when the markets witnessed the big crash.

The company’s rebranding from Facebook stock change to Meta was announced on October 28, 2021, while the stock began trading on Nasdaq under the ticker code META on June 9, 2022. Meta stock has failed to meet expectations the Nasdaq 100 file by more than 100 percent over the most recent 1-year. Throughout recent months, since the rebranding was finished, the offer cost of Meta is somewhere around practically 59%, while Nasdaq 100 is somewhere near around 20%.

The continuous slide in the share price of Facebook stock change to Meta has eroded the value over 3-year and 5-year as well. The Facebook share has lost 7% and 3% over the last 3 years and 5 years respectively. Since Facebook went public, the company’s first-ever revenue loss was registered in July 2022. However, Mark Zuckerberg, the company’s chief, still has hope for the Metaverse and believes that the company is setting the foundation for what he expects to be a very exciting 2030.

According to the company – The Facebook stock change to Meta will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can’t be together — and do things together you couldn’t do in the physical world. It’s the next evolution in a long line of social technologies, and it’s ushering in a new chapter for our company.

The overall Facebook company is now called Meta, a social technology company. ‘Meta’ in Greek means ‘after’ or ‘beyond’. However, the Facebook app will retain its name and there’s no change for other apps. Meta Platforms Inc. (FB) is a $529.53 Billion market cap company. The stock price of FB is around $196.29 and over the last 1-year, the price is down by over 40 per cent. Facebook along with Apple, Amazon, Netflix and Google forms the formidable group of technology companies called FAANG.

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