MAANG? SLEEVE? OR MAMATA? The rebrand from Facebook to Meta Platforms has launched the search for a new acronym for the FAANG group of growth companies, which also includes Apple, Amazon.com, Netflix and Alphabet.
Facebook announced Thursday that it is now called Meta Platforms, just as the social media company is focusing on building an ambitious “metaverse,” a shared virtual environment.
The name change also follows a damaging complaint and criticism from lawmakers and regulators about its market power.
The most popular suggestion in Twitter for the tech heavyweight group it is MAANG, where the “F” in FAANG is replaced by the “M”. Some users also rearranged the letters to form MANGA, referring to Japanese comics.
FAANG elite stocks have a combined market capitalization of about $ 7.416 trillion so far this year, up from $ 5.8 trillion last year.
Several Twitter users also proposed reorganizing the group to add Microsoft Corp – which competes with Apple to be the most valuable publicly traded company in the United States – as well as Tesla Inc, which has joined the elite billion-dollar club. dollars of market value this week.
With the remodel, some users came up with MAMATA, which would put aside Netflix, which has the lowest market capitalization compared to the rest of the group, at $ 299 billion, and would use an “A” for Alphabet, whose search engine Google gave FAANGs their “G”.
The MAMATA -formed by Microsoft, Apple, Meta, Amazon, Tesla and Alphabet – have a combined market capitalization of about US $ 10 trillion, account for a quarter of the weight of the S&P 500, compared to almost 20% of the FAANG group.
“This handful of stocks (FAANG) has reigned for quite some time, and with the start of the reduction in bond purchases, the slow rise in rates and inflation these technology assets may lose value,” said Tom Hayes, managing partner. from Great Hill Capital.
Meta Platforms shares were up around 2% in early trading and will have a new ticker, MVRS, on December 1.
.
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
