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Facebook’s Meta Rebranding Leads to Rise in Share Value of This Canada Company With Same Name

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Facebook's Meta

HIGHLIGHTS :

  • The Canadian company is known as Meta Materials
  • It functions under the ticker symbol MMAT
  • Facebook’s Meta will operate under the MVRS ticker

The Canadian company is known as Meta Materials

A Canadian organization has been seeing a flood in its stock worth in the course of recent days. Shockingly, it has Facebook’s Meta to thank for its new fortune. Canada’s Meta Material was forced to bear some name-related disarray as many raced to put resources into the retail broker after Facebook rebranded itself to Meta. Financial backers apparently mixed uploads of the Nova Scotia-based Meta Materials for the portions of the social media monster. Accordingly, only hours after Facebook declared it would be called Meta, Meta Materials acquired 26% in late-night exchanging.

Facebook last week declared that it was changing its corporate name to Facebook’s Meta. The rebrand was made with the expectation to collect its brands under Meta Platforms, with being “metaverse first.”

It functions under the ticker symbol MMAT

As indicated by a report by CBC, the exchanging meeting saw a trade of more than 12 million offers in the Canadian organization. This, the report added, is over two times the standard day-by-day volume. The organization’s site depicts its innovation that empowers extraordinary capacities, for example, “transparently obstructing a particular shade of light, or undetectably warming a window in a vehicle.”

While Meta Materials capacities with the ticker image MMAT, Facebook’s Meta Platforms, starting December 1, 2021, will work with the ticker image MVRS.

Curiously, on Thursday, George Palikaras, Founder and CEO of Meta Material, invited Facebook to the “metaverse” post the rebranding. Tweeting on the event, Palikaras said, “in the interest of Meta Material, I might want to cheerfully invite Facebook to the metaverse.”

Meta, formerly Facebook, will operate under MVRS ticker

This, nonetheless, isn’t whenever a more modest firm first has profited from such instances of mixed-up character. According to CBC, in 2013, when the miniature contributing to a blog webpage Twitter declared designs to open up to the world, a lethargic gadgets retailer called Tweeter Home Entertainment Group saw a spike of 1,400 percent in its portion.

In the interim, Palikaras shared one more association with Facebook’s Meta by expressing that the organization would highlight in an impending web-based talk close by Facebook’s augmented simulation (VR) division and different organizations.

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