Google's shares pass $700 mark

Shares kiss the $700 mark in early morning trading Wednesday, marking a new first for the Internet giant and its soaring stock price.

Google's shares kissed the $700 mark in early morning trading Wednesday, marking a new first for the Internet giant and its soaring stock price.

Google's stock rose to more than $701 a share, following reports that it is pitching its "Gphone" to Verizon Wireless. The stock was up $4.95, or less than 1 percent, in morning trading, from its close of $694.77 on Tuesday.

Just a little more than three weeks ago, Google shares passed the $600 mark and analysts were speculating its shares could climb as high as $700 within the next year. Apparently, it's been a quick year.

For Google, its ride on Wall Street has been a blast since it debuted in 2004 at $85 a share. The share price has risen alongside its market share in search, as it has leaped ahead of archrival Yahoo on a number of fronts.

With Google hitting the $700 mark within weeks of its previous milestone, Wall Street soothsayers may soon be setting the bar at $800 a share. And who knows--Google may have something extra to be thankful for by T-Day.

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