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LONGVIEW, Wash. (AP) - For the first time since shares in Coca-Cola Co. started trading in 1919, rival PepsiCo Inc. has stolen the southern soft-drink giant's market cap crown.
After markets closed Monday, Coke shares were priced at $41.15, down 36 cents. At the end of September, Coke, of Atlanta, Ga., had 2.4 billion shares outstanding, giving it a market capitalization, or total value of shares, of about $98.7 billion Monday.
Coke's northern rival, however, saw its stock close at $59.31, up 31 cents, Monday. As of Sept. 3, the Purchase, N.Y., soft drink and snack company had 1.7 billion shares outstanding, giving it a market capitalization of $110.8 billion on Monday.
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