Social media platform Facebook Inc FB, which is now known as Meta Platforms Inc, won’t be getting a new stock ticker as quickly as originally forecasted.
What Happened: In October, Facebook announced plans to change its name to Meta and a new stock symbol of MVRS. The symbol was said to change from FB to MVRS on Dec. 1.
The company announced after market close Monday the ticker change is being delayed until the first quarter of 2022.
Shares will continue to be listed on the Nasdaq with ticker FB, the stock symbol used since Facebook's IPO in 2012.
Related Link: Facebook Rebrands As Meta: Whatt Investors Should Know
Why It’s Important: Facebook CEO Mark Zuckerberg said the name change was important, as the company would now be “metaverse-first, not Facebook-first.”
One of the most popular technology-related Black Friday sale items was the Oculus Quest 2 from Facebook, according to a report from TheVerge.
Metaverse-related cryptocurrencies and stocks have traded higher since Facebook's initial announcement.
FB Price Action: FB shares were down 0.38% at $336.75 in after-hours trading.
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