Google Loses $13 Billion(?!)
Google stock has plummeted on what the market is calling a bad earnings report, falling over $46 in after-hours trading. GOOG fell from a closing price of $548.59 to around $502.47, an 8% drop that wiped out $13 billion in shareholder value.
Google stock dropped as the company didn’t meet analysts’ expectations for the quarter. However, they’re still doing pretty darned well!!
For a company to succeed they have to spend some money. In Googles case they spent it on hiring some sweet new talent to kick the company up a notch.
Already Google stock has gained more than half of what it lost. I’m not really worried.
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