With the remarkable increase in the price of Google’s stock (NASDAQ: GOOGL) since the company’s initial public offering (IPO), it makes sense to step back, observe this growth in more detail, and see how much an investment of $1,000 from 13 years ago would be worth today.
As it happens, the company that is now called Alphabet Inc. was originally founded as a search engine business in 1998 under the name Google Inc., and it had an IPO in 2004, issuing shares of Class A common stock on the Nasdaq Global Select Market under the symbol ‘GOOG.’
The company then split its stock in 2014, relabeling its Class A shares under the ticker ‘GOOGL,’ whereas ‘GOOG’ remained reserved for the newly created set of Class C shares. Today, Alphabet Inc. consists of a number of businesses, with Google still at its core, offering Google Cloud, Chrome, Android, Gmail, YouTube, artificial intelligence (AI) tool Bard, online data storage, and other services.
Since 2010, Google’s share price has witnessed a massive surge of 1,026.86%, as it grew from $12.25 at a weekly close on September 17, 2010, to the $138.04 recorded at press time as of September 20, 2023. This means that an investment of only $1,000 in this stock in September 2010 would today be worth well over $11,000 (or, more specifically, $11,268.62).
Google stock price analysis
Presently, the price of GOOGL stands at $138.04, recording a daily premarket increase of 0.37%, growing 2.26% in the previous five days, as well as gaining 7.53% across the past month, according to the most recent data obtained on September 20.
Meanwhile, Google has recently made a last-ditch effort at the Court of Justice of the European Union (CJEU) to overturn a €2.42 billion ($2.6 billion) fine for market abuse related to its shopping service, imposed on the company by EU antitrust chief Margrethe Vestager in 2017.
Furthermore, the development arrives at the heels of California-based Alphabet laying off several hundred employees from its global recruiting team as it seeks to slow down hiring following an aggressive downsizing trend in the industry from earlier this year and becoming the first Big Tech company to lay off workers in this quarter.
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