Facebook Stock Added To Dow Jones S&P 500 Index
The world's leading online social network will replace chip testing equipment company Teradyne after the close of trading on the New York Stock Exchange on December 20, S&P Down Jones Indices said Wednesday in a release.
Facebook shares rose nearly four percent to top $51 in after-market trades on Wednesday.
Being added to the S&P 500 comes at the end of a year in which Facebook climbed out from the wreckage of its much-hyped but quickly panned stock market debut early in 2012.
Facebook has been on an upward cycle since earnings showed a jump in mobile advertising revenue.
Facebook shares plummeted after the highly anticipated IPO last year and languished, primarily due to doubts about the California-based company's ability to make money from members using mobile devices to get online.
Facebook, based in the northern California city of Menlo Park, will be added to an S&P software and services category in the index.
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