While Facebook may have gotten off to a rocky start with their stocks, they have really come back strong. As a tribute to that, the incredibly popular Standard & Poor’s 500 index, and their 100 index have added them to their lists. The S&P indexes are among the most respected in the investment world, and are largely used to track the overall health of the stock market by many.
In the S&P 500, Facebook is replacing the electronic gear testing maker Teradyne. In the S&P 100, they are replacing The Williams Cos. The 100 index is a list of the largest US companies, so it is quite an accomplishment to make it on. Based on the market value Facebook currently has, which is $121.2 Billion, they are the 30th most valuable company on the S&P 500.
The changes will be effective after the closing bell of trading has rung on December 20th, 2013.
With the announcement, Shares of Facebook jumped up 4% in afterhours trading. As of this writing, Facebook is trading at $51.38, which is up 4.05%. Investors will undoubtedly be happy to have Facebook on these two S&P indexes. Not only does this show that Facebook is performing well, but for many it will be an indication that they are a strong company for the future as well.