Back in March of this year, rumbles starting surfacing regarding Google’s stock prices, with RBC Capital Markets anticipating that it would reach the $1000 milestone by March 2014. Fortunately for both the company and its stockholders, not only was the firm correct, the Internet giant has achieved its financial-first months early.
It is a rare company that can boast membership in the $1,000 club, and represents a first-ever for the Internet giant. The stock hit — and surpassed — the milestone earlier this evening, peaking (at the time of this article, anyway) at a few pennies over $1003 USD. Though the stock has been rising steadily in recent months, it recently had a large spike.
Strong third-quarter earnings helped kick off a strong stock increase, with Mashable reporting that the stock price nearly rose by 10-percent over the course of some few hours. Other companies to enjoy this milestone include Berkshire Hathaway and Priceline. The odds are high that we’ll see the number drop back into the three-figure soon, but the milestone remains nonetheless.
As of the middle of March of this year, Google’s stock sat at $835.04 USD, giving a frame of reference for how high it has climbed in the past half year or so. RBC had said at the time that good conditions could result in even higher prices, reaching as high as $1045, and though recent concerns have been expressed about the company’s advertisement business, there are still a handful of months left until March rolls back around.