If you had invested ,000 in Facebook stock when Mark Zuckerberg changed his name to Meta, here’s what you would have today:

If you had invested $1,000 in Facebook stock when Mark Zuckerberg changed his name to Meta, here’s what you would have today:

If you had invested $1,000 in Facebook stock when Mark Zuckerberg changed his name to Meta, here's what you would have today:

If you had invested $1,000 in Facebook stock when Mark Zuckerberg changed his name to Meta, here’s what you would have today:

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The recent Meta Connect 2024 eThe recent Meta Connect 2024 event highlighted a mix of new products and technological advances Metaplatforms (NASDAQ:META) could prove to be justification that the company’s bets on the metaverse are about to pay off.

What happened: At Meta Connect 2024, Meta CEO Mark Zuckerberg highlighted a cheaper Quest virtual reality headset, new artificial intelligence features and the Orion smart glasses.

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“A lot of what we’ve been talking about for a long time, glasses, mixed reality, AI, it’s happening. And we can start to see what the future of computing and human connection will look like, and.” “It’s pretty great,” Zuckerberg said.

Speaking about the Orion glasses, Zuckerberg said the company is now “closer to realizing Reality Labs’ dream.”

Reality Labs is the segment of Meta Platforms that covers its bets on Metaverse, Virtual Reality and Augmented Reality.

The segment is part of Meta’s strong bets on these ideas to show growth in the coming years, so much so that on October 29, 2021, the company formerly known as Facebook for many years changed its name to Meta Platforms changed.

“Connection continues to evolve and so do we,” the company said at the time. “The metaverse is the next evolutionary stage of social connection. Our company’s vision is to help bring the metaverse to life, so we are changing our name to reflect our commitment to that future.”

Zuckerberg announced the name change at the Facebook Connect event in 2021.

“To reflect who we are and what we want to build, I am proud to announce that starting today, our company is called Meta,” Zuckerberg said.

Zuckerberg said that from this moment on, the company will be “Metaverse-first, not Facebook-first.”

The company changed its name to Meta Platforms and eventually changed its stock ticker from FB to MVRS. In 2022, the company announced that it would switch its ticker from MVRS to the current META.

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Meta Platforms has experienced several rounds of layoffs in recent years, leading shareholders and employees to question whether the company has invested too aggressively in the metaverse in order to grow.

The company’s Meta Connect event and recent earnings reports suggest that further growth could come from ongoing investments in the metaverse.

Invest $1,000 in FB Stock: Trading under the ticker symbol FB at the time, shares were trading at approximately $325.52 on October 28, 2021, when the company’s rebranding and new direction was announced.

A $1,000 investment in Facebook stock back then could have purchased 3.07 shares. Today, the $1,000 investment would be worth $1,758.53, a 75.9% increase over the last nearly three years.

For comparison: investments in SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the S&P 500 Index, would have performed worse. A $1,000 investment in SPY back then would be worth $1,240.11 today, an increase of 24%.

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This article: “If You Invested $1,000 in Facebook Stock When Mark Zuckerberg Changed His Name to Meta, Here’s How Much You Would Have Today” originally appeared on Benzinga.com