Facebook
is now bigger than Wal-Mart, at least when it comes to its value on the stock
market.
The world’s biggest online social network
knocked the world’s largest retailer out of the top 10 list of the
highest-valued companies in the Standard & Poor’s 500 index on Monday and
the gap widened on Tuesday.
Facebook Inc. was valued at $242.7 billion as
of late morning trading, its share price up more than 2 per cent at $86.59.
Wal-Mart Stores Inc., meanwhile, was valued at $233.8 billion, its stock price
down 21 cents at $72.58.
Facebook has been on a roll this past year,
its shares up about 32 per cent in the past year compared with just 8.2 per
cent for the S&P 500 index. Its quarterly results have consistently
surpassed expectations.
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