Investors accidentally bought out shares of an outside company due to the renaming of Facebook

After Facebook renamed Meta, investors on the Canadian trading exchange confused it with another company, Meta

Materials, and raised its shares by 26%. Discuss

Meta Materials is called this becausemanufactures composite "metamaterials" consisting of plastics, metals and other components. Investors raised its shares during trading on the Canadian stock exchange by 4.8%, on the postmarket shares rose by 26%.

Investors often confuse similar names andraise the shares of other companies instead of the necessary ones. For example, after Elon Musk's recommendations to use the Signal messenger because of its security, investors raised the shares of a small company Signal Advance by 1100%. And there are many such examples.

Source: VC