After Facebook changed its name to Meta Thursday, the acronym FAANG for the five biggest American tech companies didn’t quite fit anymore.
But fear not: Mad Money’s Jim Cramer, who coined the term FAANG in 2013, unveiled a new acronym Thursday—MAMAA.
The maternal-sounding acronym drops Netflix, which was the “N” in FAANG and replaces it with Microsoft, which surpassed Apple as world’s most valuable company on Friday, after Apple’s stock declined. It also drops the “G” that stood for Google in favor of another “A,” which stands for Alphabet, Google’s parent company.
The new acronym, MAMAA, stands for Meta, Apple, Microsoft, Amazon, and Google’s parent company Alphabet.
Thursday, on Mad Money, Cramer said he was confident that Facebook deserves its place in the new FAANG, or MAMAA, acronym because of its willingness to reinvent itself.
“What I saw today, when I watched Meta’s metaverse video, reminds me of why I created the FAANG acronym to begin with,” he said on his show Thursday.
Cramer also complimented Facebook’s vision of the metaverse, a digital world in the making for business and leisure, which he said could be the “great equalizer” for small and medium-size businesses that can have their own 3D digital storefronts.
Although at first some on social media thought the name FAANG would change to MAANG following Facebook’s rebrand, Cramer said the whole acronym deserved a revamp.
“Let’s replace the “G” too, come on, let’s get serious,” he said. “Let’s add a second “M,” let’s put in Microsoft, darn it.”
While two big components of the MAMAA acronym, Apple and Amazon, both saw declines in their stock price on Thursday and Friday, Cramer said investors should focus on the bigger picture.
The entire MAMAA acronym is poised for long-term success, he said Thursday.
“Don’t bet against MAMAA,” he said.
More finance coverage from Fortune:
This story was originally featured on Fortune.com
Source: finance.yahoo.com