Google Stock Hits An All-Time High
Yesterday Google’s stock closed just above $861 per-share, a huge benchmark for Google as it marks an all-time high for the search giant.
Google went public in 2004, for $85 per share, and had a massive sprint leading up to 2008, where unfortunately the market collapsed due to the companies poorly managed mortgage portfolios. In 2008, prior to the market collapse stocks cost roughly $700 per share, and after the collapsed shares dropped briefly below $300.
As the American economy recovered from housing issues, Google recovered too – however, unlike the American economy, Google did not recover successfully. Shares were available to purchase for a sum ranging from $500 to $600 per share.
In the year of 2012, Google released a bunch of new features and updates, such as Google Drive, multiple Android updates and a shed-load of other features. Last October, Google reported its Q3 results for 2012, and Larry Serge (Co-Founder of Google), announced that revenue from mobile devices had nearly tripled – at this point the mobile revenue rate for Google was $8 billion.
As of May 6, Google reached an all-time high with their price per share reaching $861. It certainly seems like Wall Street have certainly gained interest in Google again. Software Engineer March Andreessen made an official statement saying that the next 3 billion people to connect to mobile internet will be using $50 Android phones.
If you wish to find out more about Google’s financial status, be sure to hit the source link below.
- SourceGoogle Finance