Thursday, July 8, 2010

Why Google is not feeling lucky


(CNNMoney.com) -- Perhaps it's time for Google to be evil.

Shares of the Internet advertising giant had fallen for 13 consecutive trading sessions before finally rallying Wednesday. During that unlucky stretch, Google's stock plunged (coincidentally?) 13%, erasing about $20.8 billion in market value.

The stock rose more than 3% Wednesday along with the broader market. That was despite a price target cut by J.P. Morgan analyst Imran Khan.

But even though Google (GOOG, Fortune 500) broke its losing streak, the recent rough patch is just the latest in what's been an awful year for the stock. Google's down nearly 30% in 2010, worse than the drops experienced by top rivals Microsoft (MSFT, Fortune 500) and Yahoo (YHOO, Fortune 500). (more)

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