Google passes $800 as the Larry Page touch pays off
Google shares zoomed over $800 for the first time today - five years after they hit $700.
Larry Page: credit due!
Since co-founder Larry Page replaced Eric Schmidt as CEO in April 2011, the company stock has risen by about 35 percent. Standard & Poor's 500 index has added 15 percent in the same time.
Much of the credit goes to Page . Analysts agree, according to an article in the Denver Post, that Google appears well positioned for many years of prosperity..
" Its Internet search engine remains the hub of the Web's biggest marketing network; its YouTube video site has established itself as an increasingly attractive advertising vehicle; and its free Android software is running on more than 600 million smartphones and tablet computers to create even more opportunities to sell ads," say the AP report.
As the recession ended at the end of 2009, Google's stock was lagging the rest of the market. Investors wondered if the company was losing its competitive age. Now they know.
Since Page became CEO, Google has streamlined its decision-making and operations while closing dozens of services. It moved into social networking with the 2011 introduction of Google Plus.
In morning trading, Google's stock was at $802.34, up 1.2 percent, or $9.45.