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Google Stock Passes $600 in Monthlong Surge

Posted Oct 8, 07 8:15 PM CDT in Business,  US 

(Newser) – Google's stocks have shot past $600 for the first time, kindling investor hopes as the cyber giant eyes a possible buy of ad distributor DoubleClick. CNN Money reports that stocks peaked at $610.26 in New York today and closed at $609.92, a 2.6% gain. The rise extended a monthlong surge in which shares spiked 17% in anticipation of a rosy 3rd-quarter report.

Starting at $85 in 2004, the stock's rise has spawned many millionaires—including hundreds of employees—and turned Google's top execs into multibillionaires. Now Earth's biggest online advertiser, the company will increase its power if regulators let it pick up ad distributor Doubleclick Inc. for $3.1 billion. Critics say the sale would grant Google too much sway over online ad prices.

Source CNN

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Inside Google headquarters in Mountain View, Calif., May 15, 2007. Google Inc.'s stock price sailed past $600 for the first time Monday, extending a rally that has elevated the Internet search leader's...   (Associated Press)
Google co-founder Larry Page appears onstage during the Clinton Global Initiative Annual Meeting, Thursday, Sept. 27, 2007 in New York. Google Inc.'s stock price sailed past $600 for the first time Monday,...   (Associated Press)
A visitor passes an exhibition stand of Google company in Duesseldorf, western Germany, in this Sept. 25, 2007 file photo. Google Inc.'s stock price sailed past $600 for the first time Monday, Oct. 8,...   (Associated Press)
Google CEO Eric Schmidt gestures during a talk to the Seach Engine Strategies conference in San Jose, Calif., in this Aug. 9, 2006 file photo. Google Inc.'s stock price sailed past $600 for the first...   (Associated Press)
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