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

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

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.
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