Less than a month ago, On October 02, 2007, I wrote how Google shares were about to exceed the $600 mark. Web analyst Gene Munster had said in a report that he estimated the stock to exceed $660 within one year. I guess he was right.
In less than a month, Google shares have risen dramatically. Google stock has broken the $700 mark hitting as high as $707.00 on Wednesday afternoon. According to a simple Google search for “goog”, the stock showed an all time high value of $707.00 as of 4:00pm ET time on Oct 31. That increase is simply amazing given only a short 29 day window.
To put this into prospective, an investor putting in $10,000 when the stock first went public at $85, would now see their shares valued at $83,176. So how high can Google’s stock go? According to the Associated Press, Dinosaur Securities analyst David Garrity is predicting a reach to $985 in 2008.