Google’s Stock Price Breaks $800 for 1st Time

(SAN FRANCISCO) — Google‘s stock price topped $800 for the first time Monday amid renewed confidence in the company’s ability to reap steadily higher profits from its dominance of Internet search and prominence in the increasingly important mobile device market. The milestone comes more than five years after Google’s shares initially barreled through $700. Not long after breaking that barrier in October 2007, the economy collapsed into the worst recession since World War II and Google’s stock tumbled into a prolonged malaise that eventually led to a change in leadership. Besides enriching Google’s employees and other shareholders, the company’s resurgent stock is an implicit endorsement of co-founder Larry Page. He replaced his managerial mentor, Eric Schmidt, as CEO in April 2011. Google’s stock has risen by about 35 percent since Page took over. The significance of crossing the $800 threshold is largely symbolic. If Google had its way, the stock wouldn’t even be priced ...

ability android billion brin calif ceo confidence delaware devices dominance endorsement eric francisco google inception internet larry leadership million mountain prominence prosperity recession san schmidt sergey significance web youtube