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GOOG Aborts the $700 Stock Plan

Posted by jonathan at 7:42am EST on 11/10/2007

As I’ve been watching GOOG stock for the past couple of days, I’ve noticed some huge drops. Both Thursday and Friday showed a $30 decline which now leaves GOOG at $663.97 for the weekend.

I can understand that there is a natural influx of people that want to sell because it’s at such a high price, but the rapid decrease does seem a little odd.

We have not seen any dramatic reports of Google’s revenue declining or any serious issues coming out.

Here’s a quick look at what Google stock looks like right now…

Google Stock Drop

But I can’t honestly say that this has been solely Google stock dropping. From all the stocks that I watch, I’ve noticed an overwhelming downward trend in the past two days. Here’s a brief look at what I’ve been seeing.

Stocks drop across the board

The drops across the board have been a little shocking to me. Especially AAPL and VMW dropping so much. AAPL dropped from upwards of $182 down to $165 for the weekend. VMWare also dropped from upwards of $108 down to $87.

Maybe it’s just the winter? I honestly don’t know what’s going on with the stock market right now — since I don’t follow it very closely, besides these stocks listed here.

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No Responses to “GOOG Aborts the $700 Stock Plan”

  1. Oleg

    Nov 10th, 2007

    Possibly due to the USD sinking like a brick?
    http://money.cnn.com/2007/11/08/pf/sinking_dollar.moneymag/index.htm?postversion=2007110916

  2. Jonathan Dingman

    Nov 10th, 2007

    I agree with that it does involve the dollar, but the dollar has been falling for quite some time now. Why would these negative effects only just now be seen?

    We saw GOOG rise quite a bit last week, this only happened in the past couple of days.

    I’m more interested in what specifically happened in the past couple of days to cause such a downfall of the stock market.

  3. Oleg

    Nov 10th, 2007

    Thats what the link to the article talks about. Twice before in US history the American dollar has fallen drastically while the stock market kept growing, followed by a surge downwards. I think we might currently be experiencing that surge downwards.

  4. Jonathan Dingman

    Nov 10th, 2007

    Oleg,

    Ah, a good point. I’ll go back and re-read the article, I guess I didn’t read it thoroughly enough. Thanks for your input on this.