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I had to do a double take on that one since I placed it in the Northeast initially too when making my map, and everything I read showed it in Atlanta. So sad Virginia lost another big one.
I guess we'll have to replace it with Capital One on the mega cap front.
Huh? This is your opinion but this is what Fidelity Investments says about it:
Market Capitalization allows investors to understand the relative size of one company versus another. Market cap measures what a company is worth on the open market, as well as the market's perception of its future prospects, because it reflects what investors are willing to pay for its stock
You mean a company that relies on buying and selling stocks says this? Who would’ve thought?
Quote:
Originally Posted by manitopiaaa
That's definitely true. A company's board will often sell itself lower or higher than market cap, especially if the stock had a massive stock price shift recently. But mergers and acquisitions often involve corporate politics that we aren't privy to. If Amazon really wanted to kill off a tech upstart, they might offer 10% above market cap to ensure the smaller company's Board signs off. To us, it might be a sign that market cap is wrong. But market cap might be right, and Amazon might just place a premium on that purchase.
Likewise, acquisitions often include months of rumors in advance. A small company might increase 40% on rumors that Microsoft or Apple is interested in buying them out. Then the share price will explode. Of course, Microsoft isn't going to suddenly up their bid by 40% just because of the rumor mill.
So there's always some human psychology at play that leads to these gaps. The numbers above are essentially a snapshot in time. Is Airbnb overvalued by 30%? Maybe. Maybe not. Tomorrow it could collapse by 20%. And how forward-thinking are we? Do I really care about 30 years of future profit stream if I know I'll sell the stock in 5? I might not invest in a tech stock at age 64, but would throw my entire life savings at age 25. So everyone's personal motivation is different and there's really no way to make objective something that by its nature is subjective.
So market cap has to be looked as a moving target, essentially an amalgamation of everyone's collective guesswork. But I agree, it's imperfect by design.
That said, the stock market is also imperfect, and irrational. If every stock were appropriately priced, no one would ever profit. So I'm not sure there is a better way to determine value.
Absolutely. I completely understand that using just revenue as the way to determine how big a company is (like Fortune 500/1000 does) is extremely in accurate. But those in here saying market cap is the true definition of company size arw way off. And as your last paragraph states, I enjoy its inaccuracy as it allows me to profit off of it.
As of Dec 31, 2020 there were 325 publicly traded companies headquartered in the US valued at $20B or greater. Here are their locations and market cap:
Allentown-Bethlehem-Easton
$60.395 Air Products & Chemicals
$21.680 PPL Corporation
Atlanta-Athens-Clarke County-Sandy Springs
$285.966 Home Depot
$235.671 Coca-Cola
$145.564 UPS
$65.354 Southern Company
$64.710 Intercontinental Exchange
$64.483 Global Payments
$60.349 Norfolk Southern
$25.643 Delta Air Lines
$23.457 Equifax
$22.754 FleetCor Technologies
Greensboro-Winston-Salem-High Point
$22.900 Old Dominion Freight Line
Harrisburg-York-Lebanon
$31.706 Hershey
Hartford-East Hartford
$75.208 Cigna
$28.609 Stanley Black & Decker
Houston-The Woodlands
$68.658 Crown Castle International
$49.837 Waste Management
$42.762 Enterprise Products
$42.709 ConocoPhillips
$37.824 Sysco
$30.942 Kinder Morgan
$30.549 Phillips 66
$29.093 EOG Resources
$24.332 Williams Companies
Indianapolis-Carmel-Muncie
$161.509 Eli Lilly
$79.756 Anthem
$33.612 Cummins
$27.983 Simon Property Group
Jacksonville-St Marys-Palatka
$87.777 FIdelity National Information Services
$69.403 CSX
Kalamazoo-Portage
$92.083 Stryker
$21.389 Kellogg
Las Vegas-Henderson
$45.524 Las Vegas Sands
Los Angeles-Long Beach
$328.023 Walt Disney
$133.852 Amgen Inc
$74.603 Snap Inc.
$71.759 Activation Blizzard
$56.858 Edwards Lifesciences
$48.821 Monster Beverage
$40.371 Public Storage
$38.800 Chipotle Mexican Grill
$25.390 Skyworks Solutions
$24.049 Alexandria Real Estate Equities
$23.778 Edison International
$21.039 CBRE Group
Louisville/Jefferson County-Elizabethtown-Bardstown
$54.295 Humana
$32.749 Yum! Brands
Memphis-Forrest City
$68.817 FedEx
$26.797 AutoZone
Miami-Port St Lucie-Fort Lauderdale
$151.142 NextEra Energy
$31.328 SBA Communications
$23.912 Carnival
$23.839 Lennar
Milwaukee-Racine-Waukesha
$76.129 Fiserv
$29.136 Rockwell Automation
$29.029 WEC Energy Group
Minneapolis-St Paul
$332.732 UnitedHealth
$157.672 Medtronic
$100.822 3M
$88.401 Target
$61.758 Ecolab
$35.952 General Mills
$35.821 Xcel Energy
$25.480 Best Buy
$22.926 Ameriprise Financial
Nashville-Davidson-Murfreesboro
$55.649 HCA Healthcare
$51.523 Dollar General
New York-Newark
$414.309 Johnson & Johnson
$387.355 JP Morgan Chase
$355.842 Mastercard
$243.113 Verizon
$206.956 Merck
$204.944 PepsiCo
$204.604 Pfizer
$140.172 Bristol-Myers Squibb
$135.551 Charter Communications
$128.930 Philip Morris
$128.373 Citigroup
$123.984 Morgan Stanley
$112.166 IBM
$110.043 BlackRock
$97.356 American Express
$96.255 Estee Lauder
$91.217 Booking Holdings
$90.734 Goldman Sachs
$79.092 S&P Global
$78.656 Zoetis
^^ Awesome! Discover is based in Chicago, not D.C. btw, though I'd love for it to move!
And Omaha should be in your top metros list due to Berkshire Hathaway alone. Above Washington even!
Also, I think you forgot United Air Lines for Chicago as well.
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