November 13, 2008

Google stock sees sharp decline

by Brian Turner

Google stock sees sharp decline

Shares in Google continue to lose ground – GOOG is currently trading at $285/share, which down 35% since October, and almost 60% since the start of the year.

While analysts remain downbeat about Google’s earnings due to the financial crisis and world recession, the US technology sector is taking a beating as leading companies lower revenue forecasts.

Shares in other major internet providers are down, with Yahoo’s YHOO stock now trading at just over $10, a loss of almost 65% since Microsoft attempted to buy the company in February.

The loss of share price is also adversely impacting the share options that silicon valley employees own, with these becoming increasingly worthless in the current climate for an increasing majority of employees.

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