Nick Clegg casts doubt on Facebook’s Meta relaunch in bizarre video

Separately, shares in a Canadian materials firm surged after hasty investors apparently confused it with Mr Zuckerberg’s newly rebranded Meta.

Meta Materials, which is listed on New York’s Nasdaq, soared by almost a quarter in after-hours trading on Thursday before giving up most of these gains.

The firm specialises in “smart materials” and photonics, the science of light waves that powers everything from barcode scanners to smartphones and broadband cables. 

It has already gained popularity as a so-called “meme” stock among retail investors using Reddit and social media to discuss trading.

It is just the latest case of mistaken identity as traders rush to pile into technology stocks.

Traders sent shares in another Canadian firm, Zoom Technologies, soaring by 80pc when they seemingly mistook it for video conferencing firm Zoom Video Communications two years ago.

They also piled into Signal Advance, sending the Texas-based healthcare technology firm’s shares rocketing more than 500pc higher, after Tesla boss Elon Musk tweeted the words “use Signal”. He was referring to the secure messaging app Signal, run by the not-for-profit Signal Technology Foundation. 

In a nod to the apparent confusion with Facebook, George Palikaras, chief executive of Meta Materials, tweeted: