According to Bloomberg News, Meta is the new name for Facebook Inc. It is a reference to the metaverse, an aspect that is an obsession for the Chief Executive Officer Mark Zuckerberg. However, it does have different meanings as well and it can get quite confusing and awkward.
In Portuguese and Spanish, the meaning is “goal“. In Hebrew, the meaning is “died“, which refers to a woman. However, the problem is when it is used in Brazil, a country that is the fourth largest market for Facebook, the word meta can have a sexual connotation.
Bloomberg News, reports that here the metaverse that Mark Zuckerberg talks about is that of a virtual reality platform, where people interact and connect over a digital environment.
As far as the traders are concerned, the name change is rather complicated. The stocks of the company will not trade as FB but they will trade as MVRS as of December 1st. But the question is why will they not trade as META? This is because that ticker has already been used. There is an ETF by the name Roundhill Ball Metaverse ETF that has already traded by the name META since the time it has been launched in June.
However, if you by mistake buy META and not Meta, you will have bought some Meta that exchange-traded fund comprises Facebook, which is now Meta, which makes up about 6% of the fund.
