Why Facebook Shot Higher on Monday
On the back of a 4.2% gain in its stock price Monday, Facebook (NASDAQ: FB) is now a $1 trillion-plus company in terms of market capitalization. The share-price lift was due to some very good legal news for the social media giant.
In a fresh ruling, Judge James Boasberg of the U.S. District Court for the District of Columbia quashed antitrust complaints brought by the government's Federal Trade Commission (FTC) and 46 states against Facebook. These alleged that the company acquired onetime rivals in order to choke competition in the vast social media space.
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Source Fool.com