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Article: Stunning rise since IPO in 2004: MANY PREDICTING EVEN MORE GROWTH FOR SEARCH GIANT.
- Article from:
- San Jose Mercury News (San Jose, CA)
- Article date:
- November 22, 2006
CopyrightCOPYRIGHT 2006 San Jose Mercury News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Elise Ackerman and Ryan Blitstein
Nov. 22--"Buy Google" became the cry of investors Tuesday as its shares surpassed $500 for the first time and kept climbing. Mountain View-based Google closed Tuesday at $509.65, giving the search engine-turned-media heavyweight a market capitalization of $156 billion and making the 8-year-old firm more valuable than Intel, Hewlett-Packard, Coca-Cola, Mitsubishi, Chevron and AT&T. An investor who bought 10 shares of stock in the company's August 2004 Dutch auction-style initial public offering would have turned his $850 into $5,040.80, a return of 493 percent on paper in little more than two years. How long can ...