Investors or traders who believe in Google have every reason not only to smile but laughing all the way to the bank. Since the Mountain View-based company reported a set of good earnings less than 2 weeks ago, it breached the $650 level and never looks back. And to think that the internet search engine breached the $600 level less than 20 days ago can easily put other internet and technology stocks to shame. Can you imagine that this guy could jumps more than $100 a share within a period of 20 days?
Today, Wed 31st Oct 2007, Google Inc. (Nasdaq: GOOG, stock) created history when its stock price past through the $700 a share barrier for the first time. At one time the shares traded as high as $704.79 in morning trading before falling back to the current $700 a share. In fact as time past, the stock seems to trade within a very tight range trying to put its foot above the $700 foundation.
With the latest stock price Google’s market capitalization reaches $220 billion mark, more than the second richest man on earth, Warren Buffett. However Warren’s refusal to split his Berkshire Hathaway’s (NYSE: BRK.A, stock) means Warren still hold the trophy for owning the most expensive stock on earth – $130,000 a share. Larry Page and Sergey Brin, both 34, have been the biggest winners by far, with estimated fortunes exceeding $20 billion apiece.
The latest surge came after Google confirmed plans to become a bigger force in the Internet’s social networking scene and amid reports that the company is about to unveil a long-rumored operating system designed for mobile phones so it can make more money by distributing ads to people on the go – reported AP. Pending the announcement from Ben Bernanke, it appears the market is in silent mode at this moment
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