Tuesday, July 14, 2015

Facebook Close Sets Speed Record for $250 Billion Market Cap - Bloomberg Business

Another Facebook milestone

"The social network company’s 2.4 percent climb to a record close on Monday, just over three years after its IPO, made it the first company in the Standard & Poor’s 500 Index to breach that market cap so quickly. The previous record holder was Google Inc., which took about eight years.
Facebook’s rapid ascent may indicate investor confidence that the company will continue to increase mobile-advertising sales on its application and others. To some degree, the gain also reflects froth in tech stocks; the Nasdaq Internet Index has almost doubled since Facebook went public."
Facebook Close Sets Speed Record for $250 Billion Market Cap - Bloomberg Business
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