Oh my god! I still can’t believe it. Google stock was traded at USD $334/share (10Oct)!
It has been a while since i checked Google stock price. The stock price was around USD $450 back then.
It’s a bit weird really since i am a Search Engine Marketer by profession and i use Google products day in day out.
It hit $310.92 around on Friday 10 Oct 08! Just around 2 months ago on Aug 15, Google stock was traded at $510.15 (a whopping 50+% more than the current value!)
Dare to make a guess how much Google stock was traded 10 months ago?
It was USD $714.87 man! or 114% more than the current value.
Now imagine this, 10 months ago, you were supposed to be a millionaire working for Google because of your stock option. You had a cool, funky lifestyle and never really think about money. .. 10 months later your asset reduced by half! And i can only hope that it stops there…
Next week Oct 16, 2008, Google will announce 3rd quarter earnings. It’s going to be very very interesting to see how things unfold on that day…
The next question you may have how about Yahoo and Microsoft?
Yahoo’s stock experiences a huge drop as well.
On Friday Oct 10, the stock was trade at lowest USD $12.01
Two months ago, around Aug 15 2008, Yahoo price was around $20, which is 66% higher than the current value.
6 months ago, it was trade at USD $28+, which is nearly 2.5 times higher.
Microsoft proposed to buy Yahoo at $44.6 billion in cash and stock, which equates to $31/share just 7 months ago.
I am guessing Yahoo board of directors will have to come up with few serious answers to questions raised by shareholders. Whoever holds Yahoo stock just loses short term around 60% asset.
As for the trend, Google and Yahoo stocks seem to share the same trend since April 2008. I don’t dare to imagine what will happen after Google third-quarter earnings announcement on Oct 16 and Yahoo on Oct 21. Is it possible that Yahoo share will be traded at USD $5.0? Google’s at $200 (the price 5-6 years ago…)
Last but not least is Microsoft share….
It hit a new low of $21.50 on Oct 10 as well. This is the lowest in the past 2 years or so.
Let’s just wait and see how Oct 16 will unfolds before us ….