Google Inc. (GOOG) Shares Soar to a New High
Google Inc.'s stock reached a new high Friday, reflecting Wall Street's renewed faith in the Internet search leader as it introduces new ways for advertisers to reach its steadily expanding online audience.
The shares climbed to $560.70 in afternoon trading, eclipsing the previous peak of $558.58 attained in mid-July, just days before the Mountain View-based company disillusioned investors with a second-quarter profit that fell below analyst estimates.
Google shares later settled back to $559.98, up $7.15, or 1.3 percent. That left the 9-year-old company with a market value of almost $175 billion, more than long-established technology bellwethers like Hewlett-Packard Co. and IBM Corp. The stock has increased by more than six-fold from its initial public offering price of $85 in August 2004.
The shares climbed to $560.70 in afternoon trading, eclipsing the previous peak of $558.58 attained in mid-July, just days before the Mountain View-based company disillusioned investors with a second-quarter profit that fell below analyst estimates.
Google shares later settled back to $559.98, up $7.15, or 1.3 percent. That left the 9-year-old company with a market value of almost $175 billion, more than long-established technology bellwethers like Hewlett-Packard Co. and IBM Corp. The stock has increased by more than six-fold from its initial public offering price of $85 in August 2004.
Labels: GOOG, Google Inc.
posted by Stock Administrator @ 2:42 PM
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