The new ticker symbol, which will replace the present FB, corresponds to the company's October 28, 2021, rebranding from Facebook to Meta. Meta announced at the time that its stock ticker will change to "MVRS" on December 1st. The corporation said in late November that the move will be postponed until the first quarter of 2022. Since then, Roundhill Investments has declared that it would no longer use the "META" ticker for its Roundhill Ball Metaverse ETF. Meta was able to take it because of this. The ticker symbol change does not need any action from the company's shareholders, according to Meta.

Meta Platforms' stock has dropped 42% year to date, because of the worse than expected financial reports in the beginning of the year. First quarter reports, however, were positive with good revenue and net income.

Movement of Meta Platforms stocks in the last five years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/fb:us

https://www.theverge.com/2022/5/31/23149470/meta-new-stock-ticker-fb-facebook-instagram-metaverse

https://investor.fb.com/investor-news/press-release-details/2022/Meta-Platforms-Inc.-to-Change-Ticker-Symbol-to-META-on-June-9/default.aspx

https://www.cnbc.com/2022/05/31/meta-will-change-its-ticker-symbol-on-june-9.html

https://www.ndtv.com/business/meta-platforms-to-trade-under-ticker-symbol-meta-from-june-9-3027473#:~:text=Meta%20Platforms%20Inc%20said%20on,current%20ticker%20symbol%20'FB'.&text=Meta%20would%20replace%20its%20current%20ticker%20symbol%20'FB'

https://www.investing.com/news/stock-market-news/meta-platforms-changing-ticker-symbol-to-meta-from-fb-on-june-9-432SI-2832134