If Google shares drop any further, the company may have to reprice its employees’ underwater stock options a second time. Google shares (GOOG) slipped below $300 on Friday and remain there today, trading at $292 as I write. That’s less than half their 52-week high of $602.45. Clearly, Google CEO Eric Schmidt’s grim economic commentary last week has had a deleterious effect on the company’s once stratospheric stock price. But how else were investors to interpret his comments? “We are not immune” to current economic conditions and “I view the situation as pretty dire” don’t exactly hint at surprisingly strong quarterly results.
Just to put things into perspective,I have been spending at least a million on Google for the last 4-5 years( some years a lot more), all of my clients are now moving more money from traditional media to online media as it is accountable(which is exactly what they need in a recession) The verticals in many markets are still not saturated and have a long way to go. My company has also opened offices in Brazil and we are spending more money there than other countries, emerging markets are only beginning to spend and this will filter through the rest of the world as broadband access becomes more readily available.
I just got back into Google long as it hit under $300, I know how much money I’m giving them, when I start to reduce the amount im giving Google and put my money elsewhere I’ll start to worry about the stock but for now, its fine.
No im not trying to pump up the stock, just reassure those with the stock and clear up a lot of the BS you see in forums. Those who knock the stock should put their money where their mouth is and short the shares, a very brave move indeed…
Google’s current stock price has little to do with them being “past their prime”.
Unless the Dems decide to “nationalize” everything in sight, the economy will recover and both companies and individuals with money to invest will get to ride the escalator back up again (if they invest wisely). That includes Microsoft, Google, and Apple, among others.
People, and companies who built their castles on credit will find that the tide has washed it all away.
Companies (and governments) who can break the cycle of buying a new computer and/or operating system and/or office suite every two years will realize significant savings, that can be spent on core business items instead.
I’d be suspicious of new technologies going forward that require every third employee to be an IT specialist of some sort. That party is over. Finally.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
While the technology behind the Telephone is new, the design is reassuringly old-fashioned, reminiscent of a phrenologist’s horn or ear-candle in form. We found the experience far more comfortable than the one we had with the Telegraph.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size. 11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
If Google shares drop any further, the company may have to reprice its employees’ underwater stock options a second time. Google shares (GOOG) slipped below $300 on Friday and remain there today, trading at $292 as I write. That’s less than half their 52-week high of $602.45. Clearly, Google CEO Eric Schmidt’s grim economic commentary last week has had a deleterious effect on the company’s once stratospheric stock price. But how else were investors to interpret his comments? “We are not immune” to current economic conditions and “I view the situation as pretty dire” don’t exactly hint at surprisingly strong quarterly results.
Comments
google is passed its prime in two ways:
1) its search is becoming irrelevant as results are weaker than ever, full of seo-hyped sites and sponsors
2) people are tired of google’s ads everywhere, they’ve overdone it, just like starbucks on every corner, it becomes invisible
i think google stock is still expensive
Posted by Sam Harrison at March 9th, 2009 at 11:46 amMaybe you also noticed Microsoft’s stock finally moved after 7 years – DOWN to $15.20 (dropping 50%) now only $2.49 more than a share of Yahoo!
Not even sure MS could afford Yahoo! anymore!
Posted by Stephen Antonucci at March 9th, 2009 at 11:51 amJust to put things into perspective,I have been spending at least a million on Google for the last 4-5 years( some years a lot more), all of my clients are now moving more money from traditional media to online media as it is accountable(which is exactly what they need in a recession) The verticals in many markets are still not saturated and have a long way to go. My company has also opened offices in Brazil and we are spending more money there than other countries, emerging markets are only beginning to spend and this will filter through the rest of the world as broadband access becomes more readily available.
Posted by steven riley at March 9th, 2009 at 12:56 pmI just got back into Google long as it hit under $300, I know how much money I’m giving them, when I start to reduce the amount im giving Google and put my money elsewhere I’ll start to worry about the stock but for now, its fine.
No im not trying to pump up the stock, just reassure those with the stock and clear up a lot of the BS you see in forums. Those who knock the stock should put their money where their mouth is and short the shares, a very brave move indeed…
Google’s current stock price has little to do with them being “past their prime”.
Unless the Dems decide to “nationalize” everything in sight, the economy will recover and both companies and individuals with money to invest will get to ride the escalator back up again (if they invest wisely). That includes Microsoft, Google, and Apple, among others.
People, and companies who built their castles on credit will find that the tide has washed it all away.
Companies (and governments) who can break the cycle of buying a new computer and/or operating system and/or office suite every two years will realize significant savings, that can be spent on core business items instead.
I’d be suspicious of new technologies going forward that require every third employee to be an IT specialist of some sort. That party is over. Finally.
Posted by Mac Beach at March 9th, 2009 at 1:03 pm