Google's Easy Come-Easy Go $8 Bil

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.

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Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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