What’s in a name? Sometimes a lot, and sometimes not so much. It’s not unheard of for companies to change their names in advance of a major shift in business strategy.

“Changing names has been a recurring fad among U.S. companies, often to cover up a less-than-innocent past, and it has returned to the fore,” writes Randall W. Forsyth of Barron’s. “The latest is Square, which announced … that its moniker will turn into the three-dimensional Block. That comes on the heels of the rechristening of Facebook as Meta Platforms.”

Despite their new names, both companies took a beating on Wall Street last week. “Formerly a beneficiary of online sales during the worst of the pandemic, (Square) shares are 37% below their 52-week high after a 5.6% plunge on Friday. Meta, already a laggard regardless of its name, closed in bear territory, off 20% from its 52-week high,” notes Forsyth.

The damage wasn’t limited to U.S. firms. After a rocky series of weeks, Didi Global announced that it would delist itself.

“The Chinese ride-hailing giant said Friday it plans to delist from the New York Stock Exchange and prepare for a listing in Hong Kong. It was only five months ago that the company raised $4.4 billion in its U.S. initial public offering,” according to Barron’s. “The post-IPO Champagne was practically still bubbling when China’s cybersecurity watchdog took aim at the company by launching a probe over data security concerns. It didn’t get any better from there.”

In the grand scheme of things, the ups and downs of companies like Square and Meta aren’t terribly surprising. Didi’s decision to delist itself seems unusual, but it’s difficult to know precisely how much pressure the firm was facing from investigators in China. In any event, Didi’s choice feels mysterious and unsettling. And it makes you wonder if other companies facing similar pressures will follow its example.