Jun 28, 2021 - Technology
Facebook's market value surpasses $1 trillion for the first time
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Facebook's market value surpassed $1 trillion for the first time Monday, after a federal judge dismissed an antitrust complaint from the Federal Trade Commission. The move pushed shares up nearly 5%.
Why it matters: Despite a record level of regulatory scrutiny, Facebook's value continues to soar. The company has experienced enormous growth over the past year, as more people turned to its services to communicate and shop during the pandemic.
The big picture: Facebook joins just a small handful of other companies that have recently joined the $1 trillion club. Apple, Alphabet, Microsoft and Amazon have surpassed $1 trillion in market value in the past few years.
