Google Hits, Stays Above $700
At 9:32 AM, Google’s stock arrived at $700.43. Regardless of what happened next, that was an important mark. But what happened next is interesting, too: the search engine giant generally stayed above $700.
In other words, investors didn’t say “we made it!” and immediately dump all their shares. They’re either completely asleep at the switch, or believe that the search engine giant has enough strength to keep on going.
After all, we watched it pass $600 less than 25 days ago. At this rate, Google’s stock is practically on track to hit $800 before Veterans Day. I won’t say that such a rise is unprecedented – I’m not remotely familiar enough with the market’s history to make such a claim – but it must be rare.
Much of the stock’s future performance may depend on two recently announced (and/or leaked) developments, however; its relationship with Verizon and the release of OpenSocial are both under a bit of scrutiny. Looking forward, they could become huge boosts or big embarrassments.
Meanwhile, large groups of investors are smacking themselves for not buying Google at an earlier date, and Googlers who joined the company in its early years are probably dialing their local Maserati dealer.