Google shares closed up to end the trading week at $409.88 after quite a rally this entire week on some high-profile share visibility along with, well, not huge product news from the Internet search leader.After starting September 11th's trading say at $378, Google shares would have been a decent investment for just this week with a gain of over 8% just for this week. But, will the stampede continue?
One question I posed at the conclusion of this week was the propensity of GOOG shares to continue climbing all the way to $500 based on market calls but very little substance. This isn't a bad thing, and the market makers know this.
I'm more and more becoming convinced that Google's master plan is to be the largest advertising network on the planet through all mediums possible, and the strategic partnerships and deals it has made recently have shined very bright lights on that though. If and when Google makes it, perhaps its valuation of $500 per share and the accompanying market capitalization will be completely justified. Today, though, I remain unconvinced.
Some posting highlights from this past week include:
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
Add your comments