If it’s the last week of the month, then Google must be a hot stock again. Or, if it’s the fourth week after a Google sell-off, Google’s stock must be on an upward trajectory.
Each of those factors could be as good as any other in predicting Google’s popularity among investors. In less than a month following Google’s come-uppance on Wall Street (which sparked a flurry of articles predicting that Google’s heyday is over and likening the Mountain View giant to the dot.com relic Netscape), Google’s stock is again on the upswing.
Google’s stock jumped 3.4% today to close at $390.38, an increase that continues a two-week rally. Over the past couple of weeks, Google’s share price has climbed by over $50. It’s possible that the recent run-up has been driven by Google’s rat-a-tat-tat of new product announcements, including a new online payment service.
It’s also possible that investors are feeling generous toward the company as Google heads into its investor day on Thursday. It’s even more likely, however, that Google is just a financial pendulum that swings whichever way sentiment is blowing.
Cynthia Brumfield at 6:05 PM|Comments(0)
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