"Alphabet shares gained more than 4% in value on Monday, allowing the company to achieve a historic market capitalization of $3.03 trillion at the time of writing. Market capitalization measures the total value of a company by multiplying its share price by the number of outstanding shares. Alphabet hit the $3 trillion mark just over two decades after Google first went public in 2004, and more than 10 years after its own creation as Google's parent company."
"Akphabet's market cap has grown tremendously, more than 70%, from a low of $1.8 trillion in April. The recent surge value is partially due to an antitrust ruling earlier this month in the case Department of Justice (DOJ) v. Google, which resulted in lighter penalties than initially suggested by the DOJ. The ruling caused Alphabet shares to rise by over 20% over the past month."
"In the week following the ruling, Alphabet gained $234 billion in market cap. The company's stock is up more than 30% year-to-date. For context, the Nasdaq as a whole is up 15% for the year, per CNBC. Wall Street generally views Alphabet stock favorably. More than 80% of Wall Street analysts recommend buying the stock as of Monday, per Bloomberg."
Alphabet's market capitalization climbed to $3.03 trillion after shares rose more than 4% in a single trading day. Market capitalization equals share price times outstanding shares. The company reached $3 trillion roughly two decades after Google's 2004 IPO and more than ten years after Alphabet's formation. Market value surged over 70% from an April low of $1.8 trillion, aided by a Department of Justice antitrust ruling that imposed lighter penalties than expected. Shares rose over 20% in the prior month and added $234 billion in market cap the week after the ruling. The stock is up more than 30% year-to-date, and over 80% of analysts recommended buying.
Read at Entrepreneur
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