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Facebook goes express to mega-cap status – now valued more than AT&T, Coke

25
Jul
2014

By 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 companys $190 billion market value makes it bigger than such bellwethers as Coca-Cola and ATT. Its not a member of the Dow industrials, but if it were, it would be larger than two-thirds of that indexs 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 Facebooks rise to mega-cap status is whats notable.

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