Confusion Sparks Meta Materials Spike After Facebook Name Change
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Retail trader favorite Meta Materials Inc. rallied Friday as investors apparently mistook it for Facebook Inc. after the heavyweight rebranded itself as Meta Platforms.
The Canadian material-science firm, which trades under the ticker MMAT, spiked as much as 24% before trimming gains to 3.7% at 7:24 a.m. in New York. The $1.3 billion Nova Scotia-based company was among the most actively traded stocks with more than 1.35 million shares changing hands.