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The elite FAANG shares have a mixed market capitalisation of about $7.416 trillion up to now this yr, up from about $5.8 trillion final yr.
MAANG? MANGA? Or MAMATA?
Fb’s rebranding to Meta Platforms has launched a seek for a brand new identify for the high-flying FAANG group that additionally contains Apple, Amazon.com, Netflix and Alphabet.
Fb on Thursday introduced it’s now known as Meta Platforms because the social media firm shifts to constructing the bold “metaverse”, a shared digital surroundings. The identify change comes after a harmful whistleblower report and criticism from lawmakers and regulators over its market energy.
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The preferred suggestion on Twitter for the tech-related heavyweight group was MAANG — the place FAANG’s “F” is changed with “M”. Some customers additionally rearranged the letters to MANGA, referring to Japanese comedian books.
The elite FAANG shares have a mixed market capitalisation of about $7.416 trillion up to now this yr, up from about $5.8 trillion final yr.
A number of Twitter customers additionally proposed to reshuffle the group so as to add Microsoft Corp – which has beat Apple to develop into essentially the most helpful U.S.-listed firm – in addition to Tesla Inc, which joined the elite trillion-dollar market worth membership simply this week.
Additionally Learn | How is Fb embedding the actual world in computing?
With the reshuffle, some customers got here up with MAMATA – that will drop Netflix, which has the smallest market cap in contrast with the remainder of the group at $299 billion, and use an “A” for Alphabet, whose search engine Google gave the FAANGs their “G”.
MAMATA – consisting of Microsoft, Apple, Meta, Amazon, Tesla and Alphabet – have a mixed market cap of about $10 trillion. They make up 1 / 4 of the S&P 500’s weight, in contrast with the legacy FAANG group’s almost 20%.
“These handful of shares (FAANG) have reigned for fairly someday, and it could be with the start of taper, charges slowly rising and inflation… that these tech lengthy period belongings could develop into much less helpful,” mentioned Tom Hayes, managing member at Nice Hill Capital in New York.
Shares of Meta Platforms rose about 2% in early buying and selling and can get a brand new ticker, MVRS, on Dec. 1.
Supply- thehindu