by Brian Solis
707.00 
+12.23 +1.76%
That’s right folks, Google joined the 700 club.
For the first time in its brief public trading life, Google (NASDAQ:GOOG) topped $700 per share, continuing to set new 52-week highs over and over. The new share price makes Google the most valuable publicly traded company in Silicon Valley.
Is this a $1,000 stock?
It very well could be as long as the company continues to executive on the current business plan as well as effectively competing for the future.
We’ll see how the stock performs tomorrow when the company officially announces its first in a series of important products related to social networks.
According to TechCrunch, Google’s OpenSocial is a set of three common APIs, defined by Google with input from partners, that allow developers to access core functions and information at social networks:
- Profile Information (user data)
- Friends Information (social graph)
- Activities (News Feed)
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google opensocial techcrunch bub.blicio.us bubble bubble+2.0 2.0 web+2.0 web
Discussion
This is exactly the same hysteria that lead to the first bubble bursting.
People seeing this huge $700 price per share, people looking at that original $88 strike price, and thinking …hell, I can pick the next Google.
Then, as they throw money at Wiki-Thingamagig, VerbR, Worthle.ss they get mad when they don’t win, and decide to gamble some more, “spread the risk” and end up head over heels in this stupid game.
These types of matters are best left for the VCs of the world, where hitting .300 gets them into the hall of fame.
And you private equity guys, please do not flip worthless companies and then dump them onto the public with false-hope, thanks.