Google Stock Value Tops $800: Google Plus Just Got More Relevant
Google stock prices broke new ground, exceeding $800 for the first time last week. Analysts predict that Google is primed for continued growth, and part of that growth will likely be thanks to Google+, which had a 9400% increase in followers in the last year.
The stock gain is a significant milestone for Google, as the company experienced so many challenges since tipping the $700 scale in 2007. (In fact, the rocky road to 800 brought about a major shakeup in company leadership.) The Google stock value increase is being credited to the leadership of Larry Page, who took over as CEO for Eric Schmidt in 2011. Since Page took over, the stock has been increasing steadily, well above the S&P benchmark.
For Google, the stock valuation is mostly sentiment; the company tried last year to split its stock only to wind up on trial after shareholders alleged that the split would leave too much control with Page and cofounder Sergey Brin. That trial won’t be resolved any time soon, but analysts predict that the Google stock price increase is yet another indication of Google’s predicted continued success.
Google continues to be both a thorn in the side of Facebook, as well as a foil to it. Facebook’s IPO was considered one of the biggest in U.S. history; their stock was initially offered at $38 per share, but has since dropped 25 percent. Google’s IPO in 2004 saw a initial stock price of $85 – a price they’ve never dipped below. Google already dominates the search engine market, and with Page at the helm, the company has been steadily streamlining services and creating what is now considered a growing contender in the social media market, with Google+.
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