Monday, January 23, 2006
In Google Shock, Shares Fall Nearly 10 Percent:
"SAN FRANCISCO (Reuters)—Google Inc. shares tumbled 8.5 percent Friday—their sharpest drop ever—as mounting concern over Internet sector growth fused with fears over Google's heady valuation.
The stock that bullish analysts on Wall Street said earlier this month was headed soon for $600 turned tail and fell below $400 as the shares suffered their worst day and week of trading since the Web search leader went public in August, 2004.
Suddenly—with little warning if you ignore the two rare brokerage downgrades of Google 's stock earlier this week to 'sell'—the phenomenon that has come to embody rapid growth and speculative possibilities of high-tech stocks was sinking.
Analysts pointed to any number of different reasons ranging from a sluggish sector outlook by rival Yahoo earlier this week to a legal spat between the U.S government and Google..."
"SAN FRANCISCO (Reuters)—Google Inc. shares tumbled 8.5 percent Friday—their sharpest drop ever—as mounting concern over Internet sector growth fused with fears over Google's heady valuation.
The stock that bullish analysts on Wall Street said earlier this month was headed soon for $600 turned tail and fell below $400 as the shares suffered their worst day and week of trading since the Web search leader went public in August, 2004.
Suddenly—with little warning if you ignore the two rare brokerage downgrades of Google 's stock earlier this week to 'sell'—the phenomenon that has come to embody rapid growth and speculative possibilities of high-tech stocks was sinking.
Analysts pointed to any number of different reasons ranging from a sluggish sector outlook by rival Yahoo earlier this week to a legal spat between the U.S government and Google..."
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