Facebook Market Value Tops $100 Billion and 2 Other Hot Stocks to Watch
Facebook Inc. (NASDAQ:FB): Current price $41.50
On Monday morning, Facebook’s market value topped $100 billion over optimism that the social network can boost its sales from mobile advertising. Shares are up around 2.75 percent in late morning trading on heavy volume and earlier touched $41.94 for the highest intraday level since Facebook’s IPO on May 18, 2012.
By the end of last week, the stock had advanced by 52 percent in 2013 versus a 17-percent gain in the Standard & Poor’s 500 Index and shares are now trading at around 181 times earnings, which is a greater price-to-earnings ratio than all but three firms in the S&P 500, says data compiled by Bloomberg.