Google leaps to $700 from $600 within 20-days trading

Pin It

Oct 31 2007
Linked In

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

Other Articles That May Interest You …

Pin It

FinanceTwitter SignOff
If you enjoyed this post, what shall you do next? Consider:

Like FinanceTwitter Tweet FinanceTwitter Subscribe Newsletter   Leave Comment Share With Others


Add your comment now.

Leave a Reply


(required)(will not be published)