US Tech Stocks Hit Record Highs as Facebook Changes Name to Meta
Technology stocks on Wall Street hit record highs on Thursday after a name change by Facebook generated positive vibes that sent the Big Tech sector into a rally.
Facebook announced it would change its name to Meta. The news came out at its virtual reality conference, where it showcased a preview of its ambitions to build the metaverse as it seeks to diversify beyond social media.
By 2:49 p.m. ET (18:49 GMT), the tech-heavy Nasdaq Composite Index was up 1.24% at 15,425, after hitting a record high of 15,439 earlier.
Facebook itself was up 3.5% at $323 a share.
By 2:49 p.m. ET (18:49 GMT), the tech-heavy Nasdaq Composite Index was up 1.24% at 15,425, after hitting a record high of 15,439 earlier.
Facebook itself was up 3.5% at $323 a share.
