Facebook (NASDAQ: FB) is renaming itself to Meta.
The company’s founder and CEO Mark Zuckerberg said that its new name will reflect the social network’s ambition to bring the metaverse, a new immersive platform, to life.
Along with the name change, Facebook will no longer trade under the ticker symbol “FB” — it will change to “MVRS” from December onwards.
To be sure, the social media firm is not the first major company to change its name.
More importantly, name changes can often mean more than just a different logo and a new calling card.
Making the leap
Throughout my 16 years of investing, I have encountered multiple billion-dollar companies that have made the same move, many of which I personally own.
Some name changes are subtle.
For instance, in 2016, MasterCard changed its name to a Mastercard, a minor tweak in swapping the capital “C” for a lowercase “c”....