Google Stock Quote

Google stock still looks impressive, especially if you consider how poorly the overall market has performed in the last week.
Today’s price action creates a new all time high for the stock. In light of the fact that there is no apparent news out there to drive the price higher, this bodes well for even higher prices.

Anyone?

Google stock price just about hit the $300 per share price today. Right now the stock has backed off and is trading near $295. Those round numbers often act as resistance (at least temporarily) to higher prices. Given that GOOG has runup in price significantly, it wouldn’t be too surprising if the stock gave back some of the recent gains.

My, my. What a few weeks can do for a stock.

When I last talked about Google stock a few weeks back, the stock was in the low $200s. Now the price is quickly approaching the $300 mark.

I read the news … I have seen brokerage houses upgrading the stock. It doesn’t take much to light a fire under a stock given the right conditions.

Disclaimer: I have no inside information about the company or the stock price.

What I do have is history. History that I have seen before. If you think the stock price is too high, I don’t disagree. If you think the stock can’t go much higher, then that’s where you and I part ways.

I have seen stocks “act” like this before - just keeping going higher and higher and higher. I’ve also seen those same stocks come crashing back down.

One of the most famous runups that I have partially participated in was in 1999 for Qualcomm. I’ll let you go find a chart and see what I am talking about.

Here’s the short story - the stock went up more than 10x in less than a year. If I recall correctly, the stock traded higher than $800 a share for a short while. Of course, the absolute high occurred when some young stock jockey / broker / analyst came out and picked a super high price target.

My point is this, GOOG can do the same thing.