NASDAQ:GOOG – Google Stock Up 5%, Google+ Adds $20 Billion Market Cap

Google’s value just increased by $20 billion because of Google+, Google’s initiative to enter the social media marketspace.

This means investors, although always measuring Google in regards to the search advertising revenue, see Google+ as adding a massive amount of value to the company.

On June 27, the day before Google announced Google+, the stock (NASDAQ:GOOG) closed at $482.80

And then once Google+ was announced, the stock rose to close at $546.60 on July 7th.

This equates to a $20.6 billion gain to Google’s market cap (with 322.25 million shares outstanding).

Even better for Google is that Google+ is still in its infancy, running in a very limited beta release.

Google’s stock price last week increased 5.06% to close at $531.99.

via Google Finance