In case you have haven't watched the news in the last few days (or don't care) the US and worldwide markets have been on a steep roller coaster ride of instability as investors and politicians struggle to put together a package of relief for struggling credit markets and teetering investment banks. Amidst the struggle of this uncertain time technology companies have also suffered. There is a discussion on WebmasterWorld about Google's share price dipping below $400 by losing 10% of its value in the last 24 hours. Some are concerned about what this means for Google in the future and whether investor anxiety will translate into a larger selloff for Google and other technology companies.
Some forum members aren't concerned about the stock, saying:
Most other stocks are on their way down, some justifiably so, others not, so this doesn't tell us much...G certainly isn't past its prime despite a few gripes here and there. I wouldn't be at all surprised if it doesn't top out at well more than $750 given some recovery time.
While others have concerns:
Agree with frontpage that Google is still way overpriced. Maybe a P/E of 20 might be OK, but it remains to be a high risk stock.
The majority seem not to worried about swings in Google's stock price. As most qualified investment consultants will tell you, its not a time to panic right now and let emotion take over. This will invariably cause you loose money by selling low and not taking time to make good decisions. I guess if you have money invested in Google stock you can hunker down and ride it out, look for buying opportunities to buy low, or pull it all out and stick the money in a mayonnaise jar. Or as one forum member said..."put it in gold".
Update: A few minutes after posting Google's stock chart went back down another 10% and then back up in after hours trading. There appears to have been a computer glitch saying Google stock traded low $200.01 and then back up to $490 high today with high volume right before close. Confusing? Check out Google stock chart. Continued discussion at Webmaster World
