Gphone Hype Drives Google Stock to Over $700, Makes It Fifth Most Valuable Company in US

Whatever Google might announce in two weeks, they're certainly reaping the benefits already: Hype over their mobile plans has shoved their stock price to over $700 a share, an eightfold increase since its IPO three years ago. The $20 its stock has shot up in the last couple of days has pushed its market value to $217 billion, according to Henry Blodget of Slate and Silicon Valley Insider, making it the fifth most valuable company in the country. That means it trails only Exxon Mobil, GE, Microsoft and AT&T, stomping out Proctor & Gamble, Bank of American and Citigroup. Bits nicely packages what's so compelling about the whole thing:

What has been amazing to watch is that investors keep bidding up the share price and the company responds by earning so much money as to bring each new dream back into the not-preposterous range.
[Yahoo!/Infoworld , Bits , Flickr ]