Facebook is all set to join the big leagues. The social media giant will be joining Standard and Poor’s 100 & 500 index on December 20 according to the announcement made by S&P on December 11, 2013. The announcement boosted pre-market price of Facebook by 4% to $51.40 on December 12.
Facebook has already reported their 4th consecutive profitable quarter in October 2013. Facebook’s market capitalization is well above $120 Billion, making it the largest company not to be included in the index. Facebook will replace The Williams Companies Inc. and Teradyne Inc. in S&P 100 and 500 respectively.
Facebook is already a part of Nasdaq 100. However, the inclusion in S&P indices is a huge leap for the company.
via SocialAppsHQ Blog http://www.socialappshq.com/blog/2013/12/12/facebook-in-standard-and-poors/
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