On the same day, Mark Zuckerberg also published a Founder's Letter, where he expressed his hopes that "within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce." This ties in with my observations at the beginning of this article that market research companies are predicting that the Metaverse market size will exceed a few hundred billion dollars in the coming years. On October 28, 2021, Facebook issued a press release, announcing its decision to change its corporate name to Meta, and its stock ticker symbol will be changed from FB to MVRS with effect from December 2021.
MVRS META STOCK PRICE DRIVERS
In my prior Octoarticle for Meta Platforms (formerly known as Facebook), I noted that "Facebook has its eyes on the long-term growth potential of the Metaverse" and mentioned that the company "expects to spend around a few billion dollars every year on Metaverse-related investments for the foreseeable future." I highlighted that the Metaverse, alongside Instagram Reels and Shops, were the key growth drivers for Meta Platforms in the next five years. Meta Platforms: Name Change In The Spotlight
MVRS META STOCK PRICE SOFTWARE
(FB) ecosystem developer & gaming platform operator Roblox Corporation ( RBLX ) and AR device maker & software company Microsoft Corporation ( MSFT ). These include chipmaker NVIDIA Corporation social media platform operator & VR hardware manufacturer Meta Platforms, Inc. For the purpose of this article, I will focus my attention on a number of Metaverse stocks that fall into specific categories. There are many companies which can be linked to the Metaverse and referred to as Metaverse stocks. Bloomberg Intelligence expects the market size of the Metaverse to reach $800 billion in 2024 while auditing firm PricewaterhouseCoopers or PWC forecasts that the Metaverse market will expand to as large as $1.5 trillion in the next decade. NVDA is one of the Metaverse stocks, listed companies which benefit from the rise of the Metaverse, which I will be discussing about in this article.Īs a start, the large Total Addressable Market or TAM for the Metaverse investment theme is the key reason why one should pay attention to Metaverse stocks in the first place. NVIDIA Corporation ( NVDA) defines the Metaverse as "a shared virtual 3D world, or worlds, that are interactive, immersive, and collaborative" in the company's Augblog post. and International Business Machines Corp.No-Mad/iStock via Getty Images What Are Metaverse Stocks? On Wednesday, CIBC added eight more, including JPMorgan Chase & Co., Pfizer Inc., Berkshire Hathaway Inc.
The roster already includes Inc., Alphabet Inc., Apple Inc., Netflix Inc. stocks while hedging their currency risk. The trading tool, modeled on American depositary receipts, allows Canadian investors to own U.S. “In Facebook’s case, they’re trying to change the entire image of the company,” Christofilos said.ĬIBC launched CDRs this year and added Facebook to the lineup in October. He pointed to Alphabet Inc., which held onto its ticker symbol GOOGL after it changed its name from Google Inc. Meta’s ticker symbol change reinforces the former Facebook’s push to rebrand away from its social networking roots, according to John Christofilos, chief trading officer at Toronto’s AGF Management Ltd. Meta’s CDRs closed down 4.3 per cent on Wednesday, slumping amid a broader market selloff.
The company didn’t give a reason, but the rebranding caused confusion when investors piled into an exchange-traded fund that trades under the META ticker, as well as Nova Scotia-based Meta Materials Inc.
1 change for the common shares just two days before it was to take effect and pushed it into next year’s first quarter. counterpart, after Meta postponed the Dec. That puts the Canadian listing ahead of its U.S. They’re listed on the Neo Exchange, an upstart equity market that struck a deal to be acquired by Cboe Global Markets Inc. The new symbol - MVRS CN - took effect today for Canadian depositary receipts handled by the Canadian Imperial Bank of Commerce, according to the Toronto-based bank. Meta Platforms Inc., the newly renamed owner of Facebook, has already started trading under its updated ticker symbol in Canada, jumping ahead of the delayed switch for its main U.S.
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