Google's Market Cap surges over USD 400 billion for first time
Google's stock reportedly plummeted to an all-time high of 1,191 dollars, following which its market cap hit 400 billion dollars for the first time in its history.
The increase in Google's stock comes nearly two weeks later after the company released its fourth quarter earnings report and announced plans to move forward with a long-delayed stock split.
According to the Mashable, the company's stock hit 1,000 dollars for the first time in October, driven by a strong third-quarter earnings report and investor optimism for Google's ad revenue growth and efforts to innovate in various product categories.
Google recently overtook ExxonMobil's market cap to become the second most valuable company. It is about USD 80 billion behind Apple, one of its chief competitors and the most valuable company in the world.
(Posted on 12-02-2014)