Google Inc.'s stock price continues to go up, and so the shares for the search engine hit the amount of 400$. On Thursday, this was the price for one share, fact which caused Wall Street to rethink the price targets.
The shares were going up since the company announced unexpectedly higher earnings last month. The shares closed at 403.45$, after it gained another 5.30 dollars, so the price of the share almost quadrupled since 15 months ago, when it went public.
In the beginning, a share was priced at 85$.
The highest price predicted by the analysts is that of 450$ a share.
The company's value reached 119.2 billion dollars, now the company being the 26th most valuable publicly traded company, in front of Cisco Systems, Amgen and Coca-Cola, according to USA Today.
Google has also announced the opening of offices in Sao Paulo, Brazil and Mexico City, wishing to accelerate the growth that it plans in Latin America. In this part of the world, the offices will deal with boosting use of Google Web sites and with increasing advertising sales in the region. The manager in Mexico will be Gonzalo Alonso; he worked initially as a Sales Director for the T1MSN Internet service, and the one in Brazil will be led by Alexandre Hohagen, who was the General Manager for HBO in Brazil.
Google's main purpose is that of instantly making available an enormous amount of information that regards receipts, job ads, photos, DNA sequences, real estate listings and individual standalone databases. The Vice president of Product Management at Google, Salar Kamangar, said: "This is all part of our efforts to make it really easy for anyone with information to make it accessible from Google".
Google's share- 400$
The company's value reached 119.2 billion dollars, which establishes it as the 26th most valuable publicly traded company