Stock Price Of 'Meta Materials' Jumped 25% After Facebook Rebrands As 'Meta' – Indiatimes.com

After Facebook CEO Mark Zuckerberg announced the company’s new name “Meta” to reflect its metaverse ambitions, the world reacted quickly.Not much after the announcement, the shares of a Canadian materials tech company called Meta Materials went up. This is more common than you’d think. When the pandemic drove mass adoption of video call app Zoom, the shares of totally unrelated Zoom Technologies went up in 2019. A similar thing happened to Signal Advance when the privacy concerns surrounding WhatsApp drove people to use Signal, a safer application. ReutersFacebook is now MetaFacebook’s new official corporate name will be Meta Platforms starting December 1, 2021. Its stock name will be “MVRS.” According to the website of Meta Materials, its a company focused on materials that block out a “specific colour of light” or to heat a “window in a car.”Meta Materials’ stock name is MMAT, whose shares jumped by at least 25 per cent in the aftermath of Zuckerberg’s announcement. Now, the comapny is worth over $1.5 billion.Also read: Facebook Is Now ‘Meta’, Reveals Zuckerberg: Here’s What This MeansThe CEO Of Meta Materials, George Palikaras, was elated at the rise in its shares. He tweeted on Thursday – “I would like to cordially welcome Facebook…
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