Tuesday, November 21, 2006

Google shares surpassed the $500 mark

Google shares surpassed the $500 mark on Tuesday as the search king captured 45.4 percent of the search market in the United States.

Google shares hit a high of $505.72 in morning trading, up $10.68 from Monday’s close of $495.05. Part of the reason for that news was new data from comScore Networks showing that Google led the pack in the U.S. search market, rising from 45.1 percent in September to 45.4 percent in October.

The Mountain View, California, search giant led over its nearest rival Yahoo, which had 28.2 percent of the U.S. search market, up from 28.1 percent to 28.2 percent. Meanwhile, Microsoft’s share of the market declined from 11.9 to 11.7 percent.

IAC/InterActiveCorp’s Ask.com held steady at 5.8 percent and Time Warner’s AOL fell slightly from 5.6 percent to 5.4 percent. The percentages also included affiliated search sites in the various companies’ networks.

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