It’s a little bit worrisome

I often carry on about the importance or at least the pre-requisite of doing your homework. The picture below is a good example of financial illiteracy.

It’s a chart of a U.S. listed ETF which has the trading code “META”.

This security usually trades around 170,000 shares.

When Facebook announced that it will change its name to Meta, trading in this stock jumped to an average of 2 million shares in each of the past 2 days. (see the lower bar chart)

Step 1: check that the name of the company or product matches the code and that the price is trading somewhat near where you last remember it to be.

Facebook last traded around $323 per share and has a market cap of $900 billion.