Facebook hits $1 trillion market capitalization

The social network giant is riding high.

Corinne Reichert Senior Editor
Corinne Reichert (she/her) grew up in Sydney, Australia and moved to California in 2019. She holds degrees in law and communications, and currently writes news, analysis and features for CNET across the topics of electric vehicles, broadband networks, mobile devices, big tech, artificial intelligence, home technology and entertainment. In her spare time, she watches soccer games and F1 races, and goes to Disneyland as often as possible.
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Corinne Reichert

Facebook rose to a worth of more than $1T after a favorable federal court decision.

Sarah Tew/CNET

Facebook has passed the $1 trillion in market capitalization mark for the first time ever. The social network giant hit $355.64 per share and a market cap of around $1.008 trillion by close of trade Monday.

Facebook stock rose by over 4% after a federal court dismissed an antitrust lawsuit against the social media company earlier Monday. The Federal Trade Commission's 2020 antitrust lawsuit had alleged Facebook used illegal anticompetitive practices to maintain a monopoly in social networking. A judge found the FTC did not provide enough evidence that Facebook holds a monopoly power, however.

A similar lawsuit was dismissed Monday by a US District Court. That antitrust suit was filed by 48 attorneys general in December 2020 against Facebook.

Facebook is the fifth US company to surpass $1 trillion in market value, according to CNBC, following Microsoft, Apple, Amazon and Alphabet.