CGTalk - Google shares drop, biggest fall in year

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RobertoOrtiz

11-30-2005, 01:34 AM

Quote:
" Shares in Web-search leader Google Inc. slid 4.7 percent on Tuesday, their biggest decline in a year, on concern that the outlook for holiday sales may not be as strong as investors had hoped. Expectations that U.S. retail sales activity following the Thanksgiving holiday may not be as strong as some analysts had predicted knocked Google down $19.94 to $403.54 in brisk turnover of 21.4 million.

Shares in Google, which makes money by selling online advertising and referring shoppers to sites of retailers, had gained almost 40 percent in two months on expectations that a strong holiday season would lead a surge in revenue."
>>Link<< (http://today.reuters.com/news/newsarticle.aspx?type=businessNews&storyid=2005-11-29T222022Z_01_ARM980178_RTRUKOC_0_US-GOOGLE.xml&rpc=23)
-R

noisewar

11-30-2005, 01:48 AM

No surprise, and it'll only take it harder.

Leonard

11-30-2005, 05:16 AM

Damn speculators.

L.

MikeRhone

11-30-2005, 05:41 AM

Waaaaaay overvalued. Reminds me a bit of Nortel...

m

kurtw

11-30-2005, 06:05 AM

Biggest fall in a year perhaps, but don't forget it gained 7-8 percent over the last 2-3 weeks. this is just a market correction since there has been no major news during that period.

It's just the profit takers cashing out, There hasn't been any major institutional sell off today which would trigger a more dramatic drop. I got a stop less set for my position on google in case it drops too much. Worse case I'll dump my position and load up on GOOG again when it reaches a lower price point.

Its overvalued to a degree, put it should come back to around the 360-380 mark and continue to make slow steady gains over time as long as they hit their quartery forecasts.

That being said GOOG will probably drop very significantly in mid 06 until the next christmas rush, unless they keep hitting their forecasts.

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