Facebook and Instagram’s parent company will change its stock ticker to META on June 9th

Illustration by Alex Castro / The Verge

A new stock ticker was announced when the company changed its name to Facebook. After ten years as Facebook, execs said that it would transition to aMVRS for the metaverse. After the investment fund listed under META left the symbol in January, Meta Platforms quickly confirmed that it would use META instead, while at the same time announcing its first drop in daily active users, ever. The shift will become official before the market opens on June 9th, according to paperwork filed.

People still think of Meta as the home of Facebook, but the plan is to make it more than that. Changing the company's name hasn't been enough for investors to buy into Mark Zuckerberg's vision. Their patience is short because of the combination of regulators, competitors, and the economy that strain its growth in users and profitability.

Developing content for the metaverse and augmented and virtual reality gear that will let people experience it is costing the company billions of dollars right now, with the potential payoffs still years away in the future. Meta is moving beyond 2D screens to include virtual and augmented reality to help build the next evolution of social technology, according to the new footer.