Google's Stock Price Passes $800 For The 1st Time
Google's stock has just passed $800 for the first time. The technology juggernaut has many services that it can thank for that. There's its monopolizing search engine, its variety of services like Gmail and YouTube, and of course its extremely popular Android operating system. Google has made some very great decisions within the last few years that brought it to its great milestone today. However, things didn't always look so bright for the company.
Back in late 2008, Google's stock price fell all the way down to $247.30. This was all due to the recession that swept the nation in 2007. Good Guy Google made a decision to re-price its stock options for its employees that would allow them to make more money once Google's stock picked itself back up. Late 2008 began a pretty dark period for Google. Investors were scared that Google was losing its dominance in the market. They were also scared when Facebook started booming with popularity because they feared that it would replace Google as the most important online advertisement medium.
Things started picking back up in late 2009 when the recession began to fade out and Google's stock began to rise. Despite the rise, Google's stock was still falling behind in the market. This resulted in a change of leadership in April 2011. Larry Page took over the Google CEO position from Eric Schmidt, and since then Google's stock has risen over 35%. Things have turned around. Facebook's popularity has died down while Google's is consistently rising. Google's own social media service, Google+, has been gaining a lot of traction since its inception in 2011. Some reports say that it may be the 2nd most popular social media platform.
Google will continue to rise, and it doesn't look like it will be falling anytime soon. The company has a lot going for it. It's going to be opening its own retail stores by the time the holidays roll around, it's Android operating system is only getting better and better, and its services are continually increasing in popularity. There are a lot of things that Google is planning that should keep investors happy and optimistic.
[via CBS News]