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Facebook's rebranding as Meta has unintended financial consequences

NOEL KING, HOST:

Good morning. I'm Noel King, with a story of unintended consequences.

Facebook, of course, has rebranded as Meta. A Canadian materials company, also called Meta, got very lucky when investors then bought shares of its stock. CNBC reports the Canadian company's shares surged nearly 25%. The CEO of that company even tweeted welcome to the Metaverse to Mark Zuckerberg.

It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.