Written by Brenda Nakalema

No More FB. Meta Platforms to Start Trading Under META Ticker on June 9.

The parent company of Facebook, Meta Platforms (ticker: FB), announced it would begin trading under the ticker symbol “META” in …

The parent company of Facebook, Meta Platforms (ticker: FB), announced it would begin trading under the ticker symbol “META” in anticipation of the start of trading on June 9.

Currently, the stock’s trading symbol is “FB”, which has been in use since the time the company went public in 2012. The company has since changed its name to Meta Platforms from Facebook on October 28, 2021, in a bid to communicate its future in the metaverse.

“The new ticker symbol aligns with the company’s rebranding,” said Meta in a press release.

As of trading on Wednesday, Meta Platforms shares have dropped 42.2% this year so far. In late April, the social media giant released a first-quarter profit that beat Wall Street expectations. Despite this, revenue still failed to impress, and the company later posted a forecast for the second quarter that fell below analysts’ expectations.

Meta continues to face serious headwinds, including impairment to its ability to target advertising at its audience as was done previously due to changes at Apple (ticker: AAPL) as well as competition from TikTok.