Published , by TJ Denzer
Published , by TJ Denzer
One of the bigger deals with Facebook over the course of the past year has been its move to rebrand from Facebook to its new Meta branding as a company. A big part of that means shedding the old FB stock symbol that it has kept on the stock market even since formally announcing its new company name. That has officially changed. Meta is now officially ditching the FB stock symbol and moving over to META as its new symbol.
Meta made the announcement of its move away from the Facebook stock symbol via a recent notification to stock holders such as E-Trade, informing of the upcoming FB stock symbol retirement.
“On Thursday, June 9, 2022, the symbol for Meta Platforms Inc., the parent company of Facebook, will change from FB to META,” the notification reads. “Open orders placed before the change will be canceled on June 8, and new orders may be placed starting June 9.”
This marks a major point of the transition for Meta as it moves further into away from the Facebook brand. Meta faced a number of issues as it announced it was renaming from Facebook in 2021, including accusations of inappropriate use of user data and insufficient moderation and care for content moderators. Much of its issues were revealed in full by whistleblower Frances Haugen, who submitted to Congressional testimony with evidence about the issues she had seen within the Facebook company and its ongoing business and ethics.
Nonetheless, Meta has attempted to stay on track with its interest in building and expanding metaverse experiences. With the company’s official move to the META stock symbol, it’s looking like Facebook is being officially retired back to simply being a social platform of the parent company that is Meta.