GOOG Tops $500 For The First Time
Google stock closed today above $500 for the first time ever, a new record that puts it at a market capitalization of $150 billion. While GOOG has “only” gained $38 since it reached a record high of $471.63 on January 11, it turned out to be a pretty good buy at times this year. Many thought that Google wasn’t worth picking up, what with such expensive shares, but if you had bought Google on March 10, you would have seen a return of 48.59%, a gain of $166.65 to the current $509.65. A mere three month investment, from 8/21 to 11/21, would have netted 32.94%.
The lesson? Don’t count Google out.
Interstingly, Google is now worth more than half of Microsoft, $150 billion to $293 billion. However, Microsoft is showing huge gains after a disastrous Spring, and has since mid-June gained $80 billion, or half a Google! What a strange coincidence.
[…] Comments […]
Pingback by Clotsnark » Late breaking news | November 23, 2006
Fantastic news. Some of us can even remember when Google was just a glimmer in the eye of few Internet users. This is a landmark and should be applauded. Well down Brin and Larry and congratulations. You deserve all the success you are enjoying. Very, very few people have changed the Internet as you two have done and even less have changed it for the better. Good on you! I, for one, am glad of all the success/riches you have earned.
Comment by Paul hellyer | November 23, 2006
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Pingback by Poke Times » Late breaking news | November 24, 2006
Yes, you could’ve made a nice buck, but would the risk have been worth the 1/3rd in profits?
There’s a lot that could’ve gone wrong, and even though the company may keep doing the right stuff, I’m not sure whether I can trust their stock to reflect it due to it being owned primarily by n00bs (when it comes to tech), I’m afraid. I’m not afraid of the stock market, but I’m kind of GOOG-o-phobic, I guess.
Comment by Tim | November 26, 2006