July 24, 2014
Wall Street is showing its renewed faith in Google by driving its stock to a new high.
Google shares climbed to $560.55 this morning, eclipsing the previous peak of just under $559 hit in mid-July.
Even with Google shares settling back a bit from their peak earlier today, the nine-year-old company has moved up to a market value of almost 175 billion dollars.
That's more than long-established technology bellwethers like Hewlett-Packard and IBM.
The latest run-up in Google's stock represents a turnaround from a little over a month ago when the shares briefly dipped below $500 when stock prices tumbled over fears of trouble in the mortgage industry.