Meta Platforms to ditch FB ticker in favour of META on Jun 9

FACEBOOK parent company Meta Platforms will change its stock ticker to META ahead of the market opening on Jun 9, completing a rebranding that began with a new name last year.

The ticker arrives at a difficult time for the stock, which is down more than 40 per cent this year - hurt by a broader tech rout as well as concerns about slowing growth at the social media giant. Meta has traded under the ticker FB since the company's initial public offering in 2012.

The company changed its name from Facebook to Meta last October to signal its commitment to the so-called metaverse, a more immersive version of the Internet that chief executive officer Mark Zuckerberg hopes to build.

Roundhill Investments had used the META ticker for its Roundhill Ball Metaverse ETF but relinquished the symbol on Jan 31. That set the stage for the change. BLOOMBERG