After a few weeks of rolling out new advertising options, from YouTube video ads to Google Gadget ads, the search giant's stock price has peaked at a new record of $560.70 today.
It's previous high was reached this past July at $558.58, but the stock price quickly dropped below $500 after Google reported lower than expected profits for 2Q, and the fear of the falling housing market set in. Nevertheless, Google's roll out of mobile ads, its ability to reverse summer slump trends in search activity, and other additions for its search and advertising options have helped Google's stock price once again soar. The Federal Reserve Bank's decision to lower short-term interest rates by 0.5 percentage point has helped lessen overall fears on the fate of the advertising market. For now.
Google has also had quite a ride this week with the reports released from nielsen, Hitwise, Forbes, and with more upcoming plans for things like a trans-pacific cable, Google is looking to stay in the good graces of the market.