Personally, I think the social media portion of this company is worth nearly $500 per share - this would be about a 35 pe ratio, a good ratio for a growing company. It shouldn't be 25 as it is now.
And I don't think the name change should mean anything. It's still the same company it was two weeks ago.
But the new name puts it in a truly speculative market - and that means a ratio of 50 to 100. Tesla has a pe of 300. And maybe this name change is changing how people are looking at the future for this stock and it's price.
$(Apple)$ changed from a company that made computers, to ipods for music, to cellphone/ipads/iwatches. A range of gambles that worked.
$(Netflix)$ changed from dvd's to steaming.
Companies that change realize that the market changed. I train companies realized that they were in the business of transportation, they would have made cars 125 years ago.
But $(FB)$/Meta is making a big gamble. The market was hungry for the iPhone, and the iPad - perhaps not so for watches, but they are dominate now. I don't know about the metaverse - because this is not a simple thing - it is going to take a lot of advancements in technology. But, if anyone can pull it off, it is FB - it could have been Steve Jobs, but he left us too soon.