Posted by: Roben Farzad on November 28, 2006
Last week, as Google (GOOG) shares hit $513 and the young company found itself worth more than $155 billion, I penned a somewhat sarcastic commentary. The point: Google was stockpiling a ridiculously enviable acquisition currency. Permanent and infinite riches? Or fleeting money? Read on:
One long weekend, negative Barron's piece and market sell off later, Google shares change hands at $482; the firm now totes a market valuation of $147 billion. That's $8 billion gone in less than a week. I doubt this mini pullback is inducing a mass Maalox moment at the Googleplex . But it does give us mere mortals another view of the breathtaking numbers the market has bestowed on the Big G.