In late 2021 Facebook CEO, Mark Zuckerberg, announced the change in the company name from Facebook to Meta Platforms, Inc. As part of this change, they are updating the company ticker symbol from FB to MVRS. The company will begin trading under this new ticker symbol on June 9th, 2022.
Does the ticker symbol change affect the value of my shares?
SoFi response: No, the change in the ticker symbol does not alter the number of shares or the value. However, with this change, there may be movement in the market that could cause the share price to fluctuate.
Do I need to do anything with my shares?
SoFi response: No, you do not need to do anything with your shares regarding the change in the ticker symbol. You are welcome to hold, sell, or buy additional shares based on your personal investing strategy and preferences.
What if I have fractional shares of FB?
SoFi response: The change in the ticker symbol does not alter the number of shares or the value of fractional shares.
What will happen if I have an open limit order during the change?
SoFi response: All open limit orders for FB will automatically be canceled prior to the market open on Thursday, June 9th. This is done automatically by our clearing firm for all securities that undergo corporate actions. Please Note: Members will need to resubmit new limit orders once trading begins on Thursday, June 9th.
What will happen to my recurring purchase that I set up for FB?
SoFi response: SoFi will use best efforts to ensure that all recurring purchases of FB will proceed uninterrupted at the same dollar amount and frequency originally set. SoFi will notify members via email if their recurring purchases are at all interrupted.
What will happen if I have an open market-on-open order during pre-market on Thursday, June 9th?
SoFi response: SoFi will use best efforts to ensure that all Market on Open orders of FB will proceed uninterrupted. SoFi will notify members via email if their Market on Open orders are at all interrupted.