The-CNN-Wire™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. Roundhill’s metaverse ETF has also plunged about 40%.Ĭoncerns about slowing user growth, advertiser skittishness as the economy cools and emerging competition from TikTok have hurt Meta Platforms and other social media stocks, such as Snapchat, Pinterest and Twitter. The stock has plummeted more than 40% this year as investors wonder if the strategy shift will pay off.
Meta Platforms and Roundhill were not immediately available for comment.įacebook’s transition to Meta Platforms has been a rocky one. Roundhill and Meta Platforms may have held discussions about letting the social media giant get the coveted “META” ticker. Roundhill also didn’t give a reason for the change. Then, in mid-January, Roundhill said it was changing the ticker of its metaverse ETF to “METV.” That took effect at the end of January. Meta Platforms announced in November that it was postponing the ticker change to this year. This story should end here - but Meta Platforms clearly really, really wanted to have the “META” ticker for itself. It also owns gaming chip giant Nvidia, video game platform Roblox and Microsoft. In fact, Meta Platforms is its top holding. That ETF, as its name implies, invests in companies with exposure to the metaverse. Why not “META”? Meta Platforms was originally unable to announce that it would use “META” as its new symbol, because there already was an exchange-traded fund that had that ticker: the Roundhill Ball Metaverse ETF. Then again, there's Teeter: Harris Teeter.Initially, the company said it would change its ticker symbol in December 2021 to “MVRS,” a vowel-deficient version of Metaverse. The stock plunged 73 percent, closing at $0.014. Twitter isn't the first to come up with cashtags, though. Cashtags require a '' followed by the ticker symbol. Yesterday FINRA changed Tweet's ticker symbol to THEGQ.įINRA said it changed the symbol to avoid "further confusion" following "a widespread misunderstanding related to the possible initial public offering of an unrelated security." The system works the same way as Twitter's already well-known hashtags. To prevent further confusion, the Financial Industry Regulatory Authority (FINRA) stepped in Friday and suspended trading in Tweeter. TWITTER'S IPO FILING SHOWS 215 MILLION ACTIVE MONTHLY USERSīloomberg says more than 14.3 million Tweeter shares changed hands-the most trades Tweeter had enjoyed since 2007. Its stock today is traded only over the counter. operates as a platform for public self-expression and conversation in real-time.
What buyers bought were shares in a defunct Massachusetts retailer of electronics that closed up shop in 2008. Enter a ticker symbol you are interested to view. The stock of Tweeter Home Entertainment Group shot up almost 700 percent on Friday-the day after Twitter's IPO filing became public-as buyers mistook Tweeter's ticker symbol, TWTRQ, with Twitter's, TWTR. Problem is, a lot of them have bought stock in the wrong company-Tweeter. Twitter is grabbing the headlines thanks to the news that Elon Musk, the multi-billionaire owner of electric vehicle manufacturer Tesla, is offering to buy the company for around 43 billion (INR.
But that hasn't prevented over-eager buyers from trying to buy the shares anyway. The social network juggernaut has yet to make its public stock offering. 9, 2013 - Want to buy stock in Twitter? Don't buy Tweeter by mistake.
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