Google stock takes a tumble
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Google stock takes a tumble
Yahoo! results, worries about Internet advertising market, U.S. search inquiry spark sell-off.
January 20, 2006: 3:15 PM EST
NEW YORK (CNNMoney.com) - Google stock tumbled Friday as investors showed concern about prospects for the Internet advertising market and the company's role in a Justice Department lawsuit about Internet searches.
Shares in Google (down $34.79 to $401.66, Research) sank about 7 percent in heavy trading on Nasdaq. Volume of 31 million shares was nearly triple the normal daily average.
Investors sent Yahoo tumbling Tuesday after the largest Internet media company surprised investors by posting earnings below expectations. (Full story)
Google said Thursday it was resisting a Justice Department subpoena that the company turn over search records for a case regarding an anti-pornography law. (Full story)
Google's stock has had a meteoric rise in its short time as a public company. The company initially offered its shares to the public at $85 on Aug. 19, 2004.
The stock reached an all-time closing high of $471.63 on Jan. 11, 2006.
http://money.cnn.com/2006/01/20/technol ... /index.htm
January 20, 2006: 3:15 PM EST
NEW YORK (CNNMoney.com) - Google stock tumbled Friday as investors showed concern about prospects for the Internet advertising market and the company's role in a Justice Department lawsuit about Internet searches.
Shares in Google (down $34.79 to $401.66, Research) sank about 7 percent in heavy trading on Nasdaq. Volume of 31 million shares was nearly triple the normal daily average.
Investors sent Yahoo tumbling Tuesday after the largest Internet media company surprised investors by posting earnings below expectations. (Full story)
Google said Thursday it was resisting a Justice Department subpoena that the company turn over search records for a case regarding an anti-pornography law. (Full story)
Google's stock has had a meteoric rise in its short time as a public company. The company initially offered its shares to the public at $85 on Aug. 19, 2004.
The stock reached an all-time closing high of $471.63 on Jan. 11, 2006.
http://money.cnn.com/2006/01/20/technol ... /index.htm
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