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NEW YORK (AP) - It now seems like a distant memory. Last summer, Google Inc. slashed its asking price for shares in its initial public offering by 30 percent to $85 a piece to attract more demand.
Who would have thought that 10 months later the stock of the Internet search engine provider would be closing in on $300 a share, giving it a market capitalization of more than $78 billion. What's more, many analysts don't even think that's where it will top out in the coming months.
Does Google sound like a stock bubble? It's too soon to tell, but worries over that isn't doing much to deter investor interest.
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