What�s in a name? Meta Materials soars after Facebook identity switch

Arabnewsksa30 Oct, 2021News

BENGALURU, India: Facebook may have unveiled its new identity at a glitzy event on Thursday, but shares of a lesser-known Canadian industrial materials company surged in an apparent case of mistaken identity. As Facebook metamorphosed into Meta, shares of Halifax, Nova Scotia-based Meta Materials Inc. jumped 6 percent in opening trades on the Nasdaq on Friday, following a 26 percent rise in after-hours trading. Facebook shares were up 1.6 percent.