Motorola Mobility's heavy losses appear to have had little effect on Google, as the company becomes the second tech stock ever to close above the $1,000 line.
Google stock closed above $1,000 for the first time on Friday, following better-than-expected third-quarter earnings.
(Credit: Screenshot by Seth Rosenblatt/CNET)
It's a good day to be a Googler, or at least a Google stockholder, as the company closes the week in the exclusive club of $1,000 stocks.
The company added more value to its stock in the past day, $40 billion, than the entirety of Yahoo's value, $34 billion. Google shares leaped 13.82 percent, from $980.28 per share when the market opened Friday morning to $1,011.99 at its close. The stock peaked at $1,014.63.
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Google is the second tech stock to breach the psychological $1,000 barrier, following Priceline's ascension in September. Google's stock went public in 2004 at $85 per share.
There are only two other publicly-traded companies valued that high. Warren Buffet's Berkshire Hathaway trades at $175,400, and meat processor Seaboard, currently valued at $2,827.98.
Google's stock surge comes on the news that it's beginning to find success in selling mobile ads, leading to better-than-expected revenue of $14.89 billion for the third quarter of 2013. What makes the news even more remarkable is that Google's Motorola Mobility remains a lead weight on the company's resources, sucking down $248 million in third-quarter operating losses.
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