“Bye-bye FAANG, hello MAMAA,” the “Mad Money” host said on Thursday’s show. “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.”
Microsoft — which on Friday passed Apple to become the world’s most valuable publicly traded company — was not formally part of the old FAANG acronym, although many on Wall Street would often mention it in the same breath as its fellow technology giants.
It’s become a widely used way to refer to the cohort.
Netflix is not included in the new acronym.
Facebook announced on Thursday it’s new name of Meta, which the company says better captures its ambitions beyond social media. The company, which includes the Facebook, Instagram and WhatsApp platforms, is investing heavily in what’s known as the metaverse, a digital world in which people use various devices to engage with each other in a 3D environment. Meta also owns the virtual reality headset maker Oculus.
Meta’s stock ticker will change from FB to MVRS on Dec. 1.