HT TECH wants to start sending you push notifications. Click allow to subscribe

Note to Mark Zuckerberg: META stock ticker will soon be available

Roundhill Investments, which uses META for its Roundhill Ball Metaverse ETF, will relinquish the ticker symbol on Jan. 31, according to a statement on Friday.

By: BLOOMBERG
Updated on: Aug 21 2022, 23:34 IST
Meta, owner of the world’s largest social network, still trades under the ticker FB on the Nasdaq Global Select Market. (AP)
Meta, owner of the world’s largest social network, still trades under the ticker FB on the Nasdaq Global Select Market. (AP)

Meta Platforms Inc., which changed its name from Facebook Inc. late last year but hasn’t yet adopted a new stock symbol, could soon have the perfect ticker: META. Roundhill Investments, which uses META for its Roundhill Ball Metaverse ETF, will relinquish the ticker symbol on Jan. 31, according to a statement on Friday. 

Meta, owner of the world’s largest social network, still trades under the ticker FB on the Nasdaq Global Select Market. The company originally said in October it would change its ticker to MVRS, a nod to the word “metaverse.” Two days before the planned swap, though, Meta delayed changing the symbol without an explanation, and said a change would come sometime in the first quarter. 

You may be interested in

Mobiles Tablets Laptops
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹156,900
Check details
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
₹107,999₹149,999
Buy now
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
₹106,998
Check details
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹87,900
Check details
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,990₹74,999
Buy now
41% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹52,990₹89,999
Buy now
41% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹34,490₹57,999
Buy now
40% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹31,350₹51,990
Buy now
35% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹25,999₹39,999
Buy now
55% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹47,000
Buy now
32% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,668₹28,999
Buy now
Honor Pad X9
  • Gray
  • 4 GB RAM
  • 128 GB Storage
₹16,998
Check details

“I’d speculate that someone gave Roundhill an offer that they couldn’t refuse for that ticker,” said James Seyffart, a Bloomberg Intelligence analyst. “And if I had to speculate on who or where that offer came from -- I’d guess it was from Meta.”

A Meta spokesman declined to comment on the company’s plans for its new ticker, or whether it intends to take META. Roundhill didn’t immediately respond to a request for comment.

Gen Z investors shift focus from 'meme-stocks' to the 'metaverse,' report shows

(Reuters) - Enthusiasm around "meme stocks" has eased for young investors a year on from the GameStop Corp trading frenzy, with Gen Z's attention shifting to companies in areas like electric vehicles and the "metaverse," according to a report released on Friday.

The top stock holding among the Gen Z cohort - people born after 1996 - in the fourth quarter was Tesla Inc, according to the quarterly investor outlook from Apex Fintech Solutions, which provides custody and clearing services for brokers like SoFi, Stash, WeBull, and Goldman Sachs Group's Marcus.

AMC Entertainment slipped from the No. 1 spot in the top 100 ranking of stocks for the first time in several quarters, to No. 3, said the report, which analyzed more than 1 million Gen Z accounts held by Apex's clearing arm.

GameStop, which retail investors piled in to last January in a social media-fueled attempt to punish short sellers, dropped five spots to No. 11, the report showed. Meme stocks with less mainstream buzz fell more, with e-commerce platform Wish's owner, ContextLogic, down 35 spots at No. 56 and biopharmaceutical company Ocugen Inc dropping 41 spots to No. 91.

Electric vehicle startup Rivian Automotive Inc, which went public in November, debuted at No. 44, while Chinese EV maker NIO held the No. 8 spot and Ford Motor Co was No. 19.

Shares of Facebook parent Meta Platforms Inc rose a couple of notches to No. 12, while Roblox rose 36 spots to No. 36.

"There's a lot more interest in metaverse," Apex Chief Executive Officer Bill Capuzzi said in an interview. "As more NFT companies become public, we'll probably see them move in to the top 100."

The metaverse generally refers to shared virtual world environments which people can access via the internet, often making use of virtual reality or augmented reality.

Payment companies were also popular with young investors, with Paypal Inc jumping 9 spots from the third quarter to No. 19, while Block, formerly called Square, was steady at No. 25.

Follow HT Tech for the latest tech news and reviews , also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 15 Jan, 18:02 IST

Sale

Mobiles Tablets Laptops
14% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
₹116,499₹134,999
Buy now
5% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
₹137,990₹144,900
Buy now
8% OFF
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage
₹82,999₹89,900
Buy now
3% OFF
Samsung Galaxy Z Fold5
  • Icy Blue
  • 12 GB RAM
  • 256 GB Storage
₹154,999₹159,999
Buy now
33% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,999₹39,999
Buy now
22% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,445₹24,990
Buy now
57% OFF
Honor Pad X8
  • Blue Hour
  • 3 GB RAM
  • 32 GB Storage
₹8,999₹20,999
Buy now
21% OFF
Samsung Galaxy Tab A7 Lite
  • Silver
  • 3 GB RAM
  • 32 GB Storage
₹9,999₹12,700
Buy now
22% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹33,499₹42,999
Buy now
37% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹49,990₹78,999
Buy now
33% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹51,480₹76,800
Buy now
37% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹32,890₹51,990
Buy now
NEXT ARTICLE BEGINS