STORY: The final touches of Facebook’s facelift appear to be complete.
The social media company on Thursday began for the first time trading under the ticker symbol ‘META’ – the umbrella title it adopted last year as part a corporate rebranding effort.
At the time, founder and CEO Mark Zuckerberg explained that his company was now more about building a “metaverse”– blending online, virtual and augmented worlds.
But the name change also came as Facebook was coming under fire from lawmakers and regulators for failing to appropriately curb hate speech, inflammatory rhetoric and misinformation.
The Federal Trade Commission had also filed an anti-trust lawsuit against the company for alleged anticompetitive practices, a suit that is still pending
The company’s shares have fallen nearly 42% in 2022 as it continues to battle criticism over its market power, algorithmic decisions and its policing of abuses.
Meta includes popular social media apps Instagram and Whatsapp, and of course the flagship site - still called Facebook – which continues to be firmly entrenched in the universe with its nearly 3 billion monthly users.