Google has reached its all-time high stock price today November 21, 2006 7:59PM ET finally surpassing the $500 mark. Google now has a market value of about $154 billion just eight years after Sergey Brin co-founded Google with Larry Page. Wow!
I got this news from CNNMoney.com: Google jumps past $500
NEW YORK (CNNMoney.com) — Google stock jumped above $500 for the first time Tuesday, leaving the shares up nearly 500 percent since the world's No. 1 search engine went public little more than two years ago.
Shares of Google (Charts) closed at $509.65 in heavy trading on the Nasdaq, up almost 3 percent for the day and just below the intraday high of $510 it hit late Tuesday afternoon.
Google is up more than 20 percent this year, far outperforming fellow Internet giants Yahoo!, eBay (Charts) and Amazon.com (Charts), whose shares have all slumped in 2006. Google went public in one of the most widely awaited IPOs in recent memory in August 2004 at $85 a share.
Sasa Zorovic, an analyst with Oppenheimer & Co., who has a $540 target on Google said:
"In search, there are really only three players. Google is doing everything right. Microsoft is doing everything wrong and Yahoo is stumbling somewhere in between."
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