This article was written on February 05, 2008 by CyberNet.
Over the last couple of years, Google has always been the one to impress Wall Street with incredible gains. It was just back in October that Google amazed everybody and hit the $700 mark for the first time. They continued to flirt with $700 until late December and then their stock started to go down, down, down. Lately they’ve been disappointing investors, and just yesterday their stock closed at $495.43. That was the first time since way back in August that their stock closed under the $500 mark.
So what’s going on here? Obviously we know that the economy is slowing at this point, but is there something more to it? Yesterday’s close made it the new 172-day low. The graph below shows their two year history, and it’s not hard to notice the trend:
So what will it take for Google Stock to start that upward climb again? Their fall started when they announced disappointing fourth-quarter results and they haven’t gotten a break since. If Yahoo agreed to be acquired by Microsoft, that certainly wouldn’t help their cause either. Given that I am not a stock investor, I’m not going to say whether investors should stay or go. Does Google have a chance to rebound and climb higher than ever before, or was November 7th, the day they hit their all-time high of $747.24, the best day Google will ever see?
Source: Yahoo Finance
Note: Google stock is currently trading above the $500 mark again.
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