Google Inc. (GOOG) Stock Soars Past $600
Google Inc.'s stock price sailed past $600 for the first time Monday, extending a rally that has elevated the Internet search leader's market value by about $25 billion in the past month.
The Mountain View-based company's shares traded as high as $601.45 before slipping back to $597.13 in morning trading. It marked the sixth time in the past 12 trading sessions that the stock has reached a new peak climbing on the lofty expectations for Google's third-quarter earnings. The results are scheduled to be released Oct. 18.
The latest milestone served as yet another reminder of the immense wealth created since the company went public in August 2004.
Google shares have increased more than sevenfold from their initial public offering price of $85, leaving the 9-year-old company with a market value of $187 billion -- worth more than bigger, more mature businesses like Wal-Mart Stores Inc., Coca-Cola Co., Hewlett-Packard Co. and IBM Corp.
The Mountain View-based company's shares traded as high as $601.45 before slipping back to $597.13 in morning trading. It marked the sixth time in the past 12 trading sessions that the stock has reached a new peak climbing on the lofty expectations for Google's third-quarter earnings. The results are scheduled to be released Oct. 18.
The latest milestone served as yet another reminder of the immense wealth created since the company went public in August 2004.
Google shares have increased more than sevenfold from their initial public offering price of $85, leaving the 9-year-old company with a market value of $187 billion -- worth more than bigger, more mature businesses like Wal-Mart Stores Inc., Coca-Cola Co., Hewlett-Packard Co. and IBM Corp.
Labels: GOOG, Google Inc.
posted by Stock Administrator @ 1:44 PM
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