Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

After Facebook change, Big Tech's FAANG considers toothless MAANG

Stock MarketsOct 29, 2021 10:36AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The logos of mobile apps, Google, Amazon, Facebook, Apple and Netflix, are displayed on a screen in this illustration picture taken December 3, 2019. REUTERS/Regis Duvignau

By Medha Singh and Ambar Warrick

(Reuters) - MAANG? MANGA? Or MAMATA?

Facebook (NASDAQ:FB)'s rebranding to Meta Platforms has launched a search for a new name for the high-flying FAANG group that also includes Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Alphabet (NASDAQ:GOOGL).

Facebook on Thursday announced it is now called Meta Platforms https://www.reuters.com/technology/facebooks-zuckerberg-kicks-off-its-virtual-reality-event-with-metaverse-vision-2021-10-28 as the social media company shifts to building the ambitious "metaverse", a shared virtual environment. The name change comes after a damaging whistleblower report and criticism from lawmakers and regulators over its market power.

The most popular suggestion on Twitter (NYSE:TWTR) for the tech-related heavyweight group was MAANG https://twitter.com/AshishB1603/status/1453990861851615232 -- where FAANG's "F" is replaced with "M". Some users also rearranged the letters to MANGA https://twitter.com/LifeProgressYT/status/1453978060613509128, referring to Japanese comic books.

The elite FAANG stocks have a combined market capitalization of about $7.416 trillion so far this year, up from about $5.8 trillion last year.

Several Twitter users also proposed to reshuffle the group to add Microsoft Corp (NASDAQ:MSFT) - which is competing with Apple for the most valuable U.S.-listed company - as well as Tesla (NASDAQ:TSLA) Inc, which joined the elite trillion-dollar market value club just this week.

With the reshuffle, some users came up with MAMATA https://twitter.com/blitzkreigm/status/1453914779039383553 - that would drop Netflix, which has the smallest market cap compared with the rest 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 combined market cap of about $10 trillion. They make up a quarter of the S&P 500's weight, compared with the legacy FAANG group's nearly 20%.

"These handful of stocks (FAANG) have reigned for quite some time, and it may be with the beginning of taper, rates slowly rising and inflation... that these tech long duration assets may become less valuable," said Tom Hayes, managing member at Great Hill Capital in New York.

Shares of Meta Platforms rose about 2% in early trading and will get a new ticker, MVRS, on Dec. 1.

After Facebook change, Big Tech's FAANG considers toothless MAANG
 

Related Articles

Daimler AG to rebrand as Mercedes-Benz on Feb. 1
Daimler AG to rebrand as Mercedes-Benz on Feb. 1 By Reuters - Jan 28, 2022

BERLIN (Reuters) - Daimler AG (DE:DAIGn) will be formally renamed Mercedes-Benz Group AG on Saturday - nearly a year after the spin-off of its truck and bus division was...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (5)
michael lambiase
michael lambiase Oct 29, 2021 7:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Pinterest Upwork Tesla Apple Amazon Netflix GooglePUTAANG
michael lambiase
michael lambiase Oct 29, 2021 12:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
TAANG
Meru Pet
Meru Pet Oct 29, 2021 11:40AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
why Netflix ? Meta, Apple, Google, Amazon !
Barak David
Barak David Oct 29, 2021 10:59AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the N should stand for Nvidia, and its about time to add a T to the FAANGs
Meru Pet
Meru Pet Oct 29, 2021 10:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
ahahah MAGNA ?
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email