Facebook has surpassed the $1 trillion market capitalization mark for the first time ever. The social network giant hit $355.64 per share and a market cap of around $1.008 trillion by close of trade on Monday, 28th June.
The social media company’s stock rose by over 4% after a federal court dismissed an antitrust lawsuit against the social media company. The judge found the FTC did not provide enough evidence that Facebook holds a monopoly power.
Facebook held its initial public offering in May 2012, debuting with a market cap of $104 billion. Now it’s worth over $ 1 trillion.
With the latest milestone, the company becomes the fifth US company to surpass $1 trillion in market value, joining Apple, Microsoft, Amazon and Google’s parent company, Alphabet.
–TECHNEXT
