*I will be referring to the company as Meta, not Facebook in this article
Facebook, the 7th biggest company in the world, has announced a name change. From now on, the company’s name is Meta, not Facebook. Meta announced this a few days ago, and the stock market reacted positively to this, as its stock price went up 4% the day of the announcement. There have been no changes of executive titles yet, which is basically titles such as CEO. The stock sticker for Meta will change on December 1st from FB to MVRS. The company said that they made the change since Facebook is no longer the core part of the company, as it owns Instagram, Whatsapp, and Oculus, a VR company. They chose the word Meta since it means beyond in Greek. Also, they want to explore the “Metaverse,” another virtual reality world. Meta made another big change, as their logo is now a blue infinity symbol, instead of a blue thumbs up. Meta is currently facing a lot of criticism about misinformation, after a whistleblower revealed many things about the company.
Jim Cramer from CNBC also coined a new term: MAMAA. MAMAA stands for 5 of the biggest tech companies there is: Microsoft, Apple, Amazon, Alphabet (parent company of Google), and Meta. Before MAMAA, there was FANG, which changed to FAANG in 2017 to add Apple. The companies in FAANG were Netflix, Facebook, Google, Amazon, and Apple. The only difference between MAMAA and FAANG is that Microsoft replaced Netflix, and Facebook changed to META. Before MAMAA, people still referred to Microsoft just like the different FAANG companies.
https://www.cnn.com/2021/10/
