Meta will better reflect the companies brand
Facebook will change its corporate name to Meta.
The name change will better reflect the company's brand according to Mark Zuckerberg. The main social media and network will keep the Facebook name.
The price of FB have moved higher on the news. It is trading up about over nine dollars on the day or 2.92%. It is testing its 200 day moving average at $321.64. A move above that moving average would be a relief for the buyers in the stock. The move down from the September high took the price down nearly 20% over 34 trading days.