Facebook Parent Meta to Trade Under Ticker ‘META’ on Nasdaq From June 9

Meta Platforms said Tuesday that its Class A common shares will begin trading on the Nasdaq under the ticker symbol “META” before the market opens on June 9, replacing the existing ticker symbol “FB.”

The company changed its name from Facebook to the Meta Platform in October last year in a rebranding focused on building “metaverse,” a shared virtual environment that it bet would be the successor to the mobile internet.

The current index “FB” has been in use since the company’s initial public offering in 2012.

The company recently introduced several other changes. A few days ago, Meta Platforms said it would share more data about the targeting choices made by advertisers who display ads for political and social issues in its public ad database.

Meta said it will also include detailed targeting information for these individual ads in a “Facebook Open Research and Transparency” database used by academic researchers, in an expansion of a pilot program launched last year.

“Instead of analyzing how advertising is being served by Facebook, it really goes along and looks at the advertiser’s strategy for what they were trying to do,” Jeff King, META vice president of business integrity, said in a phone interview.

The social media giant has faced pressure in recent years to provide transparency about targeted advertising on its platforms, especially around elections. In 2018, it launched a public ad library, although some researchers have criticized it for its glitches and lack of detailed targeting data.

Meta said the Ad Library will soon display a summary of targeting information for a social issue, election or political ads run by a Page.

For example, an ad library could show that over the past 30 days, the page ran 2,000 ads about social issues, elections, or politics, and that 40 percent of its spending on these ads was targeted at ‘people who live in Pennsylvania’ or ‘people who live in Pennsylvania. Those interested in politics,” Mita said in a blog post.

© Thomson Reuters 2022

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