Facebook shares may have taken a big hit as questions mount over how the social network treats user data, but the company still has a stock market value of over half a trillion dollars, more than Coca-Cola, PepsiCo and McDonald’s combined.
On CNBC Tuesday morning, as Facebook stock remained under pressure in the premarket after Monday’s nearly 6.8 percent decline, “Squawk Box” co-host Joe Kernen asked why Facebook’s more than $500 million market capitalization should dwarf the values of other major companies that make and sell real products and more tangible services.
Admittedly, Kernen has always said he does not understand why people are on Facebook and he’s not among 2 billion-plus monthly active users around the globe.
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