Google Shares Pass Another (Mostly) Meaningless Milestone: $700 - Rmail
Posted by elveston priory at 5:11 pm
Shares of Google passed the $700 per share mark for the first time this morning. In reality, this number doesn’t mean much since Google has vowed to never split their stock (so much for all that IPO talk about letting average investors participate in the company’s growth), other than a few more billion dollars in market value the company can leverage to keep fueling its acquisition frenzy. Google’s stock gets a lot of hype in the press because of its high retail price, but actually, Amazon has performed much better over the past 52 weeks, up 131% versus the 45% gain posted by Google.
Nonetheless, Google has been on a sharp climb recently, as it passed the $600 mark just three weeks ago. With major news products like “GPhone” and OpenSocial on the way, it’s clear that investors are enthusiastic about the company’s plans to make money in areas beyond search.
Disclosure: I own a whopping 5 shares of Google 
R|mail.