Facebook Tops $100 Billion

The stock is at its highest level since its disappointing IPO over a year ago

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Facebook joined an elite group of tech companies — including Amazon and Google — when it surpassed a market value of $100 billion on Monday, Bloomberg reports.

The social networking company’s stock price reached $41.94 per share, riding confidence in mobile advertising, before dropping slightly. The growing stock price is higher than at any point except the day the company went public in May 2012 and represents a marked recovery from a disastrous initial public offering that saw the stock drop to $17.73.

But Facebook remains small compared to some of its other leading peers: Apple, the most valuable U.S. company, is worth $450 billion.

[Bloomberg]

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