The material-technology company’s stock rose Friday to a high of nearly 25 per cent compared with Thursday’s close. The surge occurred after the tech giant announced it will change its name to Meta Platforms. Facebook’s shares were up 2.1 per cent at Friday’s close. Other than having similar names, the two companies appear to have no relation to each other. (The Logic)

Talking point: Halifax-based Meta Materials is Atlantic Canada’s first unicorn. The company was founded in 2011 and produces high-performance materials used in the defence and aerospace industries. CEO George Palikaras tweeted yesterday about Facebook’s rebrand welcoming Facebook to “the metaverse.” Palikaras is not the only Canadian business person who commented on the name change. As my colleague Anita pointed out, Shopify CEO Tobi Lütke tweeted that Zuckerberg’s explanation of the metaverse was one of the “most profound and approachable articulations of how the metaverse might plausibly come together.” Andrew Wilkinson, co-founder of B.C.-based Tiny Capital (an investor in The Logic), also called it “awkward” that he owns a group of agencies named Meta.