Google’s shares jumped above the $700 mark for the first time today as investor confidence for the stock continued to rise, while most other major Internet companies traded higher. The search engine operator’s shares rose $5.23 to $700 in afternoon trading. Earlier, the stock traded as high as $704.79 — just a few weeks after the shares traded above $600 for the first time. The stock’s recent price increase has been aided by Google’s confirmation that it will increase its presence in the social networking arena. And recent reports say the company will soon announce an operating system meant for cell phones so it can earn money by distributing ads to the devices.

Socialize