Photo: Yahoo Finance
Google stock rocketed up another $11 today to close at a new all-time high.
At $785 a share, Google now has a market cap of $260 billion.
The re-awakening of Google’s stock follows a multi-year period in which most investors generally ignored the company.
Google went public in 2004. Over the next three years, the stock proceeded to blast from $100 to $700.
But then, from 2007 to the middle of 2012, as the company’s hyper-growth slowed, Google’s stock multiple compressed.
But Google the company kept growing.
And Google the engineering behemoth kept innovating.
And Google the cash factory kept coining more and more money.
And now, with Google’s stock having settled into a reasonable price-earnings ratio–25X trailing earnings–the stock is on the move again.
The little search project that began in Sergey Brin and Larry Page’s dorm rooms at Stanford in the late 1990s is now a global behemoth with 50,000+ employees and $50+ billion of revenue.
And now it’s valued at $260 billion.
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