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Meta Materials shares spike after Facebook changes name to Meta


Meta MaterialsIt was also spiked Thursday evening for the same reason Zoom TechnologiesIn 2019, rallied Signal AdvanceJanuary: This is all about the name.

FacebookAs co-founder Mark ZuckerbergOn Thursday, he announced that his company would now be known as Meta. Meta Platforms will become the corporate name. The stock will begin trading on Dec. 1 under the ticker symbol MVRS.

Meta Materials does not have anything to do with Facebook. The company is a Canadian material scientist, and its technology can be used “transparently blocking certain colors of light” or heating windows in cars. website

Sometimes, investors aren’t aware of the risks or they don’t really care.

Meta Materials shares, traded under the ticker symbol MMAT on Thursday closed up to 25% after a 4.8% increase during market hours. The company’s value has risen to just above $1.5 billion. This is a small fraction of what it was worth before Facebook.

George PalikarasOn Thursday, Meta Materials CEO, Jeremy Sullivan, posted the following tweet: “I would love to cordially receive.” @FacebookThe #metaverse

Meta Materials has its headquarters in Dartmouth in Nova Scotia. This is approximately 3,800 miles from Zuckerberg’s Silicon Valley-based company. The website states that Palikaras is a doctoral candidate in metamaterials.

The rally was not solely based on the company’s name.

One tiny Chinese telecom company, named “Wireless Communications Company” in April 2019 Zoom Technologies shot upMore than 80%. Just as the pop was born, Zoom Video CommunicationsThe Nasdaq’s debut of, the popular video chat application, was made by.

Clubhouse Media more than doubledDespite the fact that the company’s public relations, media and advertising division was closed on February 1, nothing had changed. Investors were more excited about the social audio app ClubhouseIt was a hot topic in entertainment and tech circles. TeslaThe CEO Elon MuskHe told his followers on Twitter a day prior that he will be appearing “On Clubhouse tonight @ 10:15 LA time”.

Signal Advance is a tiny company that trades over-the counter. rocketed 1,100%Musk also promoted a different Signal to his followers.

Musk tweeted “use Signal,” referring to the encrypted messaging app that serves as an alternative to texting apps Facebook’s Messenger, WhatsApp and Apple’s iMessage service.

Signal needed to make it clear to investors and users that Signal Advance is not Signal Advance.

Signal: “It is understandable people would want to invest in Signal’s record-breaking growth. But this is not us.” Signal tweetedPlease click here. “We are an independent nonprofit 501c3 that only invests in your privacy.

These rallies are not sustainable and traders may try to profit from them. Signal Advance has returned to trading at 79c, which is a drop of 99% from the high it hit in January when it was $15.80. Clubhouse Media ended Thursday trading at $1.15. This is 94% lower than the $17.99 high after Musk’s tweet. Zoom Technologies sold almost all the gains it made from the huge move before the close of trading.

Meta Materials already knows what it is like to be “a true” entrepreneur. meme stockTrades are based on Reddit momentum and chatter online. On June 21st, the stock reached $18.40 and closed at 58%. In contrast to the typical daily trading of 10,000,000 shares per day, more than 200 million shares were traded.

Meta Materials remains 69% less than its June 21 close despite the Thursday after-market leap.

WATCH: Facebook goes Meta



Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.