Google stock breaks $800 mark for the first on Tuesday (Feb. 19) according to a report. The stock for Google had reached the $700 mark in October 2007, according to the Yahoo! article, but it had not been able to reach $800 when an economic downturn hit the stock a bit.
In early trading from Feb. 19, Google's stock was reported to be at $801.99, which was an increase of 1.2 percent in value (up $9.10 per share). Valued at $265 billion in current market value, Google is probably a stock very ready to be split. The reason it hasn't been split yet is a lawsuit stating that co-founders Larry Page and Sergey Brin would unfairly get more power from the move. The trial stemming from that lawsuit will begin on June 17 if it stays on schedule.
The IPO (initial public offering) of Google stock was at $85 when the stock appeared in August 2004, so those people still holding on to the original shares continue to see an increase in value. The stock now breaks the $800 mark after being around for only eight years.
At the close of the market on Tuesday, the stock was at $806.85, marking an increase in value of $13.96 for the day.
More News Headlines:
Father Offers $200 To Get Daughter Off Facebook