$Meta Platforms (FB.US)$ +3.8% is changing its name to Meta, but the ticker symbol META is already taken by an ETF that looks to cash in on the metaverse.
The
$Roundhill Ball Metaverse ETF (META.US)$ +1.3% started trading in the middle of the year.
The ETF is trading higher now and could get an unintentional boost from mistaken buys, which happened with
$Zoom Communications (ZM.US)$ and
$ZOOM TECHNOLOGIES INC. (ZTNO.US)$. Zoom Tech soared above $20 as COVID lockdowns started because it then had the symbol ZOOM.
Volume in META spiked shortly after the FB announcement. (See chart at bottom.)
Even without any mistaken trades, what's good for Facebook (FB) is good for the ETF. It counts FB as its third-largest holding at 6.8% of the portfolio.
Its top holding is
$NVIDIA (NVDA.US)$ at 7.9%, with
$Roblox (RBLX.US)$ second at 6.9%.
Roblox and Chipotle recently said they plan to partner in the metaverse.
Johnny Thunders : This looks like a major blunder by FB and Zuckerberg. :)
Sacai Luis : Facebook can’t hide how deceitful and devious they are with a cute name change
Sam White : Whatever helps NVDA is OK with me although NVDA needs no additional help as they are knocking the ball out of the park.
Indicator analyst Sam White : I’d still be glad if the ARM acquisition would be approved
Sam White Indicator analyst : Certainly the merger or acquisition would be a boon to NVDA.
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