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Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

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October 18th, 2013
05:00 PM ET

Columnist: Making Google a small part of your portfolio is worth it, even at $1,000

Google stock reached a record high Friday, closing at over $1,000, a huge increase from the company's initial public offering price back of $85 in 2004.

"A lot of people say $1,000 a share, that's expensive, and you really have to consider things like the stock price compared to revenue, compared to profits," said Rocco Pendola, columnist with TheStreet.com.

"Google's a pretty good value," said Pendola, but he cautioned investors against chasing the stock because they missed it at $85, or $100, or even $700.

"It depends on your personal situation. (If you) want to make it a small part of your portfolio, probably not a bad idea even at these levels. But to say, 'My strategy is going to be to catch Google going from $1,000 to $2,000,' it's really risky for most people, particularly if you have retirements, college funds, first homes, those kind of things that your money depends on," said Pendola.

For more of our interview with Rocco Pendola, watch the video above.

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