Samsung jumps 23 spots to take 16th position in global market cap ranking
Samsung Electronics’ shares have been hitting new all-time highs every other week. It recovered very well after falling down a bit due to the Galaxy Note 7 fiasco. Even now when times are uncertain for the company and its leadership, investors appear unfazed by the uncertainty as they continue to push the stock to new highs.
The Korea Exchange has announced that Samsung has now taken the 16th position in the global market capitalization ranking. It climbed 23 places from just a year ago to take this position. As of March 3, Samsung Electronics’ market cap totaled $241 billion. That’s an increase of almost a $100 billion as the market cap stood at $146.2 billion just one year ago.
Samsung now ranks sixth in terms of increment. During the same amount of time, Facebook’s market cap increased by $84.5 billion, Google parent company Alphabet’s by $83.9 billion, Microsoft’s by $82.4 billion and Alibaba’s by 82 billion. At the rate at which Samsung’s stock is performing right now it appears that the company might climb further up the market capitalization ladder in the coming quarters.