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      Facebook Meta Rebranding make to Rise in Share Value of Same Name This Canada Company

      A Canadian company has been seeing a surge in its stock value over the past few days. As this company thank to Facebook its recent fortune. Canada’s Meta Material was at the receiving end of some name-relate confusion as many rush to invest in the retail trader after Facebook rebranded itself to Meta.

      Investors mistook the stocks of the Nova Scotia-base Meta Materials for the shares of the Facebook.

      Just hours after Facebook announce it would be called Meta, Meta Materials gained 26% in after-hours trading.

      As we all know Facebook last week announce that it was changing its corporate name to Meta.

      The rebrand was made with the intent to collect its brands under Meta Platforms, with the idea of being “metaverse first.”

      The trading session saw an exchange of over 12 million shares in the Canadian company.

      This is more than twice the usual daily volume.

      The Canada company’s website describes its technology that enables special functions such as “transparently blocking a specific colour of light, or invisibly heating a window in a car.”

      Meta Materials functions with the ticker symbol MMAT, Facebook’s Meta Platforms, beginning 1st December 2021, will operate with the ticker symbol MVRS.

      George Palikaras, Founder and CEO of Meta Material, welcome Facebook to the “metaverse” post the rebranding.

      This is not the first time a smaller firm has benefit from such cases of mistaken identity.

      In 2013, when the micro-blogging site Twitter announce plans to go public, a dormant electronics retailer calls Tweeter Home Entertainment Group saw a spike of 1,400% in its share.

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