US Tech Stocks Hit Record Highs As Facebook Changes Name To Meta

Daniyal Sohail Published October 29, 2021 | 12:10 AM

US Tech Stocks Hit Record Highs as Facebook Changes Name to Meta

NEW YORK (UrduPoint News / Sputnik - 29th October, 2021) Technology stocks on Wall Street hit record highs on Thursday after a name change by Facebook generated positive vibes that sent the Big Tech sector into a rally.

Facebook announced it would change its name to Meta.

The news came out at its virtual reality conference, where it showcased a preview of its ambitions to build the metaverse as it seeks to diversify beyond social media.

By 2:49 p.m. ET (18:49 GMT), the tech-heavy Nasdaq Composite Index was up 1.24% at 15,425, after hitting a record high of 15,439 earlier.

Facebook itself was up 3.5% at $323 a share.

Facebook Twitter Reddit Pinterest Whatsapp

Recent Stories

SIU arrests robbery gang targeting bank customers

SIU arrests robbery gang targeting bank customers

Asia Cricket Week from April 28

Asia Cricket Week from April 28

PSA World C'ships in May

PSA World C'ships in May

Food Safety Authority raids hospitals' canteen acr ..

Food Safety Authority raids hospitals' canteen across KP

US Fed's favored inflation measure accelerates in ..

US Fed's favored inflation measure accelerates in March

Kenya flood death toll since March climbs to 70: g ..

Kenya flood death toll since March climbs to 70: govt

Rafiq-ul-Hujajj Committee to organize 2nd training ..

Rafiq-ul-Hujajj Committee to organize 2nd training session for pilgrims in Abbot ..

Defence Minister leads Pakistan's delegation to Ka ..

Defence Minister leads Pakistan's delegation to Kazakhstan SCO moot

PRCS Chairman, Moroccan envoy discuss humanitarian ..

PRCS Chairman, Moroccan envoy discuss humanitarian relations

50pc cut in subsidy of BRT service likely: CM’s ..

50pc cut in subsidy of BRT service likely: CM’s aide

Russia striking Ukraine railways to 'paralyse' arm ..

Russia striking Ukraine railways to 'paralyse' army cargo: Ukraine source

Cop, suspected outlaw injured in police encounter

Cop, suspected outlaw injured in police encounter