Alphabet Joins $3 Trillion Club With Key Risks Seen Easing (2)

Alphabet Inc. on Monday joined an elite group of companies valued at more than $3 trillion, the latest sign of improving investor sentiment toward the Google parent.

Shares rose 4.5% to $251.61, resulting in a market capitalization of $3.04 trillion. The stock has soared more than 70% from its April low, adding roughly $1.2 trillion in value over that span.

Alphabet joins a short list of companies valued at more than $3 trillion, with Nvidia Corp., Microsoft Corp. and Apple Inc. the only other publicly traded stocks above that level.

The stock’s most recent leg higher was fueled by ...