Google Soars Past US$500
Posted on November 23rd, 2006 by Simon ChenOn Monday this week, we were talking with Australia Post in a Technology Review Session. Of course, the subject of Google came up and in particular, the YouTube acquisition.
We all laughed nervously when the numbers were rattled off - the fact that when Google announced the purchase of YouTube for a staggering $1.6 billion, the market cap of the search giant then rose by another $4 billion.
On Monday this week, the Google share price was $498. Yesterday at the close of the market, it settled in at $508.
Back home here in Australia, the local media companies are yelling from the rooftops as they do exotic deals with finance groups for 3 and 4 billion. Chicken shit really. Google could buy Channel 7 and PBL straight out of their cheque account and still have enough left over to have the world’s largest Xmas party.
Finally, want to see a real stock price. Two words. Berkshire Hathaway.
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