Facebook Hits $1 Trillion Market Cap For The First Time, 5th US Company To Achieve The Milestone
June 29, 2021 | Investopaper
Facebook has surpassed a $ 1 trillion market capitalization for the first time, making it the fifth US company to achieve such milestone. With this, Facebook trails behind Apple, Microsoft, Amazon and Alphabet (parent company of Google) in terms of total market value.
With the ruling in favor of Facebook against the two antitrust lawsuits, the stock witnessed an increase of 4.2 percent value to close at $355.64. This gives the company a total market of $1.01 trillion. Apple and Microsoft have already crossed a $2 trillion mark.
In May 2012, Facebook issued shares in the Initial Public Offering (IPO) at a market value of $104 billion. It mainly generates revenue from advertisements in its platform as well as from Instagram and Whatsapp social networks (that it owns).
