Facebook (FB) stock just set an all-time high Wednesday, cementing its stature as one of the most important and most valuable companies in the world.
Shares of the leading social networking company Wednesday jumped 76 cents, or 0.9%, to $88.67 to make the company worth $249 billion. The stock is up more than 12% this year and is now taking on a size and influence that’s hard to ignore.
Facebook is now the tenth most valuable stock in the Standard & Poor’s 500 – exceeding the $233 billion market value of the world’s biggest retailer: Walmart (WMT).
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