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Why Facebook Beat the Market Again Today

One day after formally announcing to a surprised world that it is changing its name, Facebook (NASDAQ: FB) again saw its stock outpace the S&P 500 index. As every person, animal, and rock on this planet knows by now, Facebook announced Thursday it is to be called Meta, reflecting a new emphasis on the “metaverse” virtual reality (VR)-centric environment. Although the metaverse hasn’t necessarily been precisely defined, numerous investors and observers were quick to give Facebook a “like” for its largely unexpected maneuver.

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