Facebook (FB) to Change Name to 'Meta', Ticker to 'MRVS'

October 28, 2021 2:32 PM EDT

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Facebook (NASDAQ: FB) announced Thursday that is rebranding itself as 'Meta' and will change the stock ticker to 'MVRS'.

The company said the new name "brings together our apps and technologies under one new company brand."

Facebook said the metaverse will feel like a hybrid of today’s online social experiences, "sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can’t be together — and do things together you couldn’t do in the physical world."

Facebook said their corporate structure is not changing, however, how they report on their financials will.

Starting with results for the fourth quarter of 2021, the company plan to report on two operating segments: Family of Apps and Reality Labs.

They also intend to start trading under the new stock ticker, MVRS, on December 1.

Today’s announcement does not affect how the companies use or share data.

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