Correct as the market cap grew so did the value of those shares. The money had to increase in order for the shares to be more valuable hence the market cap increased. Unless they reduced the shares, more money was needed to increase the market cap.
Market capitalization refers to the total dollar market value of a company's outstanding shares of stock. Commonly referred to as "market cap," it is calculated by multiplying the total number of a company's outstanding shares by the current market price of one share.
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