Google’s stock price breaks US$800 for first time

Google’s stock price topped US$800 (HK$6,204) for the first time amid renewed confidence in the company’s ability to reap steadily higher profits from its dominance of Internet search and prominence in the increasingly important mobile device market.

The milestone comes more than five years after Google’s shares initially hit US$700. Not long after breaking that barrier in October 2007, the economy collapsed into the worst recession since World War II and Google’s stock tumbled into a prolonged malaise that eventually led to a change in leadership.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1154472/googles-stock-price-breaks-us800-first-time