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SAN FRANCISCO (MarketWatch) -- Google Inc. saw its once high-flying share price fall under the $400 mark by midday Monday. This represents the lowest price for the stock since September of 2006, when the shares were still on a sharp upward climb following the company's initial public offering two years before. The Web search giant's stock peaked near the $750 mark in November of last year before a sharp sell-off in high tech stocks began to pressure the shares. By midday Monday, Google traded as low as $395.34, down 8% from its previous close, following a sharp sell-off in tech stocks as well as the broader market.
[edited by: engine at 5:16 pm (utc) on Sep. 29, 2008]
[edit reason] added quote [/edit]
joined:Dec 28, 2005
It is hard to take the stock market seriously in general.
Which reminds me a good (true recent) story...sorry could'nt help it. Here it goes:
Once upon a time, in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each.
The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.
The man bought thousands at $10 and, as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20 for a monkey. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each, and the supply of monkeys became so small that it was an effort to even find a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the villagers. 'Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35, and when the man returns from the city, you can sell them to him for $50 each.'
The villagers rounded up all their savings and bought all the monkeys.
They never saw the man nor his assistant again, only monkeys everywhere!
Now you have a better understanding of how the stock market works.