Investors were going gaga for Google (GOOG) five years ago today. In one of the most anticipated IPOs over the past decade, the Internet search company priced nearly 20 million shares at $85 per share, raising $1.7 billion dollars through an auction of its shares.
On August 19, 2004, Google began trading at the Nasdaq and ended the day at $100.34, closing 18% above its offering price. Google’s strong momentum continued for over three years, as investors bought shares even as the stock defied expectations and repeatedly hit new highs in the process. On November 7, 2007, Google hit its current all-time high of $747.24, peaking 779% above its $85 offering price!
Over the next year, however, Google wasn’t immune to the market sell-off, as the stock retreated to a low of $247.30 on November 21, 2008.
Here are some stats on Google and the markets since the famed IPO.
- Google's IPO priced at $85/share and gained $15.3/share or 18% on its first day of trading to close at $100.33 on 8/19/2004
- 1 week after the IPO, Google was up 26.9%
- Google first doubled in value in just over 2 months after its IPO, on 10/22/04 when it closed at $172.43
- Google's IPO raised $1.7 billion and was one of over 200 IPO's in 2004 - By comparison, this year's largest IPO was last week's Starwood Property which raised $810 million and is one of 22 IPO's YTD. Starwood Property closed flat on its first day of trading and is down 2.3% since its IPO
- Google is currently up $360.3 or ~424% from its initial offering price
- All-time intraday high of $747.24 reached on 11/7/07 during intraday
- All-time intraday low of $95.96 reached on 8/19/04 during intraday
- Highest close of $741.79 on 11/06/07
- Lowest close of $100.01 on 9/3/04
- 52-week high of $510.0 reached on 8/18/08 during intraday
- 52-week low of $247.3 reached on 11/21/08 during intraday
- Biggest 1-day point & % gain was on 4/18/08 when GOOG rose $89.87/share or 19.99% to close at 539.41
- Largest 1-day % drop was on 9/29/08 when GOOG fell $50.04/share or -11.61% to close at $381
- Largest 1-day point drop was on 7/18/08 when GOOG fell $52.12/share or -9.77% to close at $481.32
Annual GOOGLE Gains:
- 2004 (from IPO to year-end): up 92.15%
- 2005: up 115.19%
- 2006: up 10.99%
- 2007: up 50.17%
- 2008: down -55.51%
- 2009 YTD: up ~44.7% as of today's close
GOOGLE vs Major Indices:
- Google is up 343.8% since the close on its first day of trading
- The Dow is down -8.2% in the same timeframe
- The S&P is down -9.3% in the same timeframe
- The Nasdaq Composite is up 7.5% in the same timeframe
Biggest S&P 500 Gainers/Losers Since Google's IPO:
Gainers (based on 1st day closing price) - GOOG ranks #6 amongst Top 10