Wow. Google stock dropped 50 bucks today

[deftron]

Wow.

Dropped more than 50 bucks in the morning


Recovered about $23


Down $27 for the day.

 

[toekramp]

Originally posted by: deftron
Wow.

Dropped more than 50 bucks in the morning


Recovered about $23


Down $27 for the day.

*golf clap*

 

[Aharami]

yay

<--just bitter because i didnt get on the google wagon from the beginning

 

[Eli]

Ouch. Reason?

 

[deftron]

Originally posted by: Eli
Ouch. Reason?

They had a press conference saying Google ad profits
aren't likely to grow

 

[mrchan]

Sigh. I was SO close to shorting it yesterday.

 

[drnickriviera]

Originally posted by: Eli
Ouch. Reason?

CFO said ad revenue growth was going to slow

 

[BCYL]

that's expected I think, the stock is WAY overvalue and still is

 

[acemcmac]

Originally posted by: BCYL
that's expected I think, the stock is WAY overvalue and still is

uhuh

 

[Acanthus]

Originally posted by: deftron

Originally posted by: Eli
Ouch. Reason?

They had a press conference saying Google ad profits
aren't likely to grow

Maybe if they stopped the rampant fraud more people would want ads through google.

 

[jadinolf]

I'm dead.🙁

 

[SampSon]

It's going to drop a lot in the near future.
That cute little spike in the share price was a complete and utter joke.

 

[BCYL]

Originally posted by: SampSon
It's going to drop a lot in the near future.
That cute little spike in the share price was a complete and utter joke.

Agreed, IMO it would drop below 300 to mid-200s...

 

[Noirish]

the google bubble has began...

 

[shamrock1313]

Do you think it will rise again? So buy now or when it gets under 300 supposedly, then wait and watch it rise back up to 350-400?

 

[SampSon]

Originally posted by: BCYL

Originally posted by: SampSon
It's going to drop a lot in the near future.
That cute little spike in the share price was a complete and utter joke.

Agreed, IMO it would drop below 300 to mid-200s...

It's going further than that.
The first wave of panic sell is coming. Then slight rebuy, then the second huge panic sell will really kill the price.

 

[jagec]

Originally posted by: shamrock1313
Do you think it will rise again? So buy now or when it gets under 300 supposedly, then wait and watch it rise back up to 350-400?

Depends, are you an investor or a speculator? Long-term, it probably won't grow. However, if you buy now, planning to sell in the near future, it might work.

 

[BCYL]

Originally posted by: shamrock1313
Do you think it will rise again? So buy now or when it gets under 300 supposedly, then wait and watch it rise back up to 350-400?

My opinion:

Google's main source of revenue is still ad sales, which from their own executive today isnt growing much... combined with increased competition from microsft & yahoo, that spells trouble...

Sure they have pushed out a lot of products lately: video store, classifieds, paypal competitor etc... but the revenue these generate is minimal in the short term (at least you need time to get user buy-in)...

Plus their development cost must be huge to push out all these products (some say $1 billion), which would also make an impact on the bottomline...