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BusinessCramer new acronym to replace FAANG after Facebook name change to Meta

Cramer new acronym to replace FAANG after Facebook name change to Meta

CNBC’s Jim Cramer has a new acronym to replace FAANG after Facebook modified its name to Meta.

“Bye-bye FAANG, hello MAMAA,” the “Mad Money” host stated on Thursday’s present. “What really matters here, as I always say about MAMAA, is that the secret of their valuation is that they’re all in the habit of reinvention. That’s why I love them so much.”

The 5 firms that kind MAMAA are: Meta (previously Facebook), Alphabet, Microsoft, Amazon and Apple.

Microsoft — which on Friday handed Apple to develop into the world’s Most worthy publicly traded firm — was not formally a part of the previous FAANG acronym, though many on Wall Street would typically point out it in the identical breath as its fellow know-how giants.

FAANG had stood for Facebook, Amazon, Apple, Netflix and Google-parent Alphabet. Cramer first coined the acronym almost a decade in the past, first as FANG earlier than Apple was added in 2017.

It’s develop into a broadly used manner to refer to the cohort.

Cramer didn’t embrace Netflix within the new acronym, partly as a result of the digital streaming pioneer’s market capitalization has not stored up with the others. Netflix is valued at roughly $301 billion, as of Friday. 

Meta’s market cap is greater than $900 billion, whereas Amazon and Alphabet are valued at $1.7 trillion and $1.97 trillion, respectively. Both Apple and Microsoft are value greater than $2.4 trillion.  

Facebook introduced on Thursday its new name of Meta, which the corporate says higher captures its ambitions past social media. The firm, which incorporates the Facebook, Instagram and WhatsApp platforms, is investing closely in what’s referred to as the metaverse, a digital world through which individuals use varied units to have interaction with one another in a 3D surroundings. Meta additionally owns the digital actuality headset maker Oculus.

Meta’s inventory ticker will change from FB to MVRS on Dec. 1.

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