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November 21, 2006
Google Breaks $500 Per Share
For fun, my MSN Direct watch is set to show the stock prices of all the major search engines. It only works in the US, and I wish I were there now to capture a screen from it showing Google having broken the $500 per share mark. AP has a longer story on it here. It's around $503 when I looked just now.
No doubt Safa Rashtchy at Piper Jaffray is keeping his fingers crossed (along with thousands of Googlers) that it will keep going. Earlier this year, Safa predicted a $600 price point by the end of 2006.
That's still much to go but far closer than the $2,000 that analyst Mark Stahlman predicted a few days later However, I don't believe Stahlman gave a time when that would happen.
Given that Google's cofounders are big fans of Berkshire Hathaway -- which I believe has never split its stock -- it's possible that inflation alone could help Google get into that range, assuming they also avoid splits. Berkshire's class B stock is at $3,588, currently.
Posted by Danny Sullivan on November 21, 2006 11:06 AM
