Google shares took another dive

Posted on Wednesday, March 01 2006 @ 20:29 CET by Thomas De Maesschalck
Yesterday after CFO George Reyes warned that Google's growth will inevitable slow as it gets bigger the company's stock took a 7% dive to $363. Reyes also said his company will need to find new ways to make money beyond advertising.
Google solicited opinions from several analysts ahead of Thursday's meeting in order to gauge what they wanted to talk about. And the past week has seen a spike in product announcements, generating a wave of interest that--until Reyes' comments at a Merrill Lynch-sponsored conference in New York--had hoisted its stock back up near $400. Shares peaked in January at $471.
>br> Hoefer & Arnett analyst Martin Pyykkonen was one of those surveyed on behalf of Google by a third-party company. "That's a positive element for them in trying to understand what is on people's minds," he said.
More details over at Forbes.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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