posted on Nov, 17 2005 @ 03:54 PM
The stock of Internet search engine company Google (Nasdaq: GOOG) rocketed past $400 a share today, closing at the sky-high level of $403.45. Buoyed
by increased profits and higher than expected advertising revenue, the company has been a Wall Street darling, rising over 30% in value over the past
month. A late comer to the Internet stock boom, only going public in 2004, Google has lately been one of the few stellar performers left in the
Google Inc.’s stock price continues to forge ahead. Shares in the search engine hit another all-time high Thursday, breaking through the $400
threshold, a move that may once again force Wall Street to rethink its price targets.
Google shares have been romping higher since it posted better-than-expected earnings last month and reported a “sea-change” shift by major
companies to online marketing from print and broadcast.
With shares above $400, the stock is up nearly $100 a share, or more than 30 percent, since it reported earnings on Oct. 20 and prompted a number of
Wall Street analysts to raise their price targets.
Please visit the link provided for the complete story.
I wish I had bought some of Google stock at its IPO!
The main difference between Google and most of the Internet companies during the stock bubble is that Google is actually making money. As long is it
remains a leader in the search engine sector, providing great advertising service, I imagine its profitability will continue to increase.
[edit on 11/17/2005 by djohnsto77]