Sunday, October 20, 2013
Google Stock (GOOG) Tops $1,000 a Share
For the first time ever, Google shares (NASDAQ: GOOG) have crossed the $1,000 a share mark. Google stock is soaring in early trading, up more than $110 a share, a gain of nearly 13 percent just today. It’s been a great 2013 for Google shareholders. The stock is up over 40 percent this year and over the last 5 years shares have surged almost 170 percent.
For investors who jumped on the Google bandwagon early when it went public nine years ago, the ride has been even sweeter. Those investors have been watching the stock since its IPO price, $85 a share.
The reason for today’s triple digit dot-com-like surge is its third-quarter earnings report that blew past Wall Street’s expectation. The company earned $3 billion in the three months that ended in September, compared with $2.2 billion in the same period last year.
Today’s surge means Google’s added $35 billion in market cap, which is more than the total size of Yahoo ($34.1 billion).
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Author: By Sandy Cannold
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