Google's share price breaks $800 for first time

Tuesday 19 February 2013 18.18
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Share price rise is endorsement of Google's co-founder Larry Page
Share price rise is endorsement of Google's co-founder Larry Page
Google's share price tops $800 for the first time ever
Google's share price tops $800 for the first time ever

Google's share price topped $800 for the first time today amid renewed confidence in its 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 barreled through $700.

But not long after breaking that barrier in October 2007, the US economy collapsed into the worst recession since World War II.

Google's stock tumbled into a prolonged malaise that eventually led to a change in leadership.

Besides enriching Google's employees and other shareholders, the company's resurgent stock is an implicit endorsement of co-founder Larry Page.

Google's stock has now risen by about 35% since Page replaced Eric Schmidt as chief executive in April 2011.