Priceline, Google in race to $1,000 a shareJuly 11, 2013: 3:27 PM ET
Google has some competition in the race to $1,000 a share.
Priceline (PCLN) shares rose 2% to $910.51 in afternoon trading Thursday. The stock topped $900 Wednesday for the first time since the salad days of 1999. So far this year, Priceline is up 46%.
Not to be outdone, Google (GOOG) shares gained 1.5% to trade at a fresh record high above $919.
Wall Street has been eyeing four-digits for Google since February, when analysts at CLSA and Bernstein both hiked their price targets for the stock to $1,000.
StockTwits traders were getting ready to place their bets.
Priceline got a boost after analysts at Susquehanna initiated coverage of the stock with a favorable rating. But some traders were skeptical whether the momentum would hold, given the strong run Priceline has had this year.
Not so fast. Priceline is headed higher and short bets will end in tears, say other traders.
On second thought, maybe now is not the right time to short Priceline.
Then there is TripAdvisor (TRIP). Susquehanna also initiated coverage on TripAdvisor, but the news was less flattering. Shares fell 2.4%.