It never fails to make me laugh a bit to myself when I see excitement over a bunch of zeros. Remember Dow 20,000 earlier this year? Or Amazon hitting $1,000 a share last week?
This week it was Google’s parent company, Alphabet (NASDAQ: GOOGL), soaring to trade at $1,006 by late Monday morning which helped push the market cap of the world’s second largest company to $688 billion.
What’s remarkable in my mind is that the demand is still there, even despite all those zeros of the four-digit stock price, as such a high price on an individual stock should make the company look unaffordable to smaller investors.