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Jun 29, 2021

Facebook hits $1T market cap after FTC's antitrust case was dismissed.
A federal court dismissed the Federal Trade Commission's antitrust complaint against Facebook, saying that the FTC did not prove Facebook maintains a monopoly. The dismissal is a major setback to the FTC's complaint, which could have resulted in Facebook having to spin out Instagram and WhatsApp. The court will let the FTC strengthen its arguments and refile the compliant. Facebook shares increased more than 4% following the rulings, passing the $1 trillion mark for the first time, making it the fifth US company to hit the milestone. Link

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