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Facebook Goes Express To Mega-Cap Status - Now Valued More Than At&t, Coke

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A man is silhouetted against a video screen with an Facebook logo as he poses with an Dell laptop in this photo illustration taken in the central Bosnian town of ZenicaBy Chuck Mikolajczak NEW YORK (Reuters) - In the days after its infamously mishandled initial public offering in May 2012, it looked as if Facebook would struggle to become a must-own for fund managers. Now the company's $190 billion market value makes it bigger than such bellwethers as Coca-Cola and AT&T. It's not a member of the Dow industrials, but if it were, it would be larger than two-thirds of that index's 30 members. "A 100-year-old company with real assets versus a company admittedly with virtual assets and they are trading at the same market cap – crazy," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. The speed of Facebook's rise to mega-cap status is what's notable.




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