Facebook valuation soars above $1 trillion for first time as judge rejects antitrust lawsuit

Facebook has become one of only five companies in the world to be valued at over $1 trillion, after a US district judge dismissed two antitrust lawsuits against the social media giant.

The company’s stocks jumped 4.2 per cent to $355.64 on Monday and continued to rise in after-hours trading, pushing its market value to an all-time high that sees it join Apple, Microsoft, Alphabet and Amazon in receiving a valuation above $1 trillion.

Facebook and several tech giants have come under increasing scrutiny from regulators for allegedly turning their businesses into monopolies, and on Monday a case brought by the Federal Trade Commission (FTC) and a group of 48 state attorneys general to undo Facebook’s Instagram and WhatsApp acquisitions was heard in a federal court.