Wall Street hates print more than it loves Google
David Johnson January 2nd, 2008
Seriously, it is for real. When shares of Google (I mean, Google for heaven’s sake!) plummet $11 dollars on a mere rumor that Mountain View is pushing farther into the print advertising business, there can be no other explanation.
3 Comments Add your own
1. fleetwood mack | January 2nd, 2008 at 1:13 pm
Plummet? A drop of $11 for a stock valued at nearly $700 a share is a “move” that might qualify for the modifier “sharp.”
That rumors can move a stock 11 bucks speaks more to the nuttness of the market itself and the trading community.
Save “plummet” for when Google takes $75 or $100 hit during a trading day.
2. tdc | January 2nd, 2008 at 1:36 pm
i thought they were ALREADY in the print business.
they took the company public on their own ($80 a share dutch auction, anyone recall?) and now their shares trade both sides of $700.
sounds like a $$$$ printing business to me!
3. alex | January 2nd, 2008 at 2:27 pm
they will probably bounce back 10-fold. but you gotta hand it to them - their extension into print media means they may care about the industry and it might help sustain print media overall. and if the google heads see value in something, i’m sure they’ve thought about it. if you build a business model around print media, you aren’t going to want it to fail.
btw, google magazine sounds intriguing, i think newspapers should follow suit… customized news in a magazine/tabloid/print format, with targeted advertising, i’m an online kinda guy, but it sounds cool. you blogged about it a while back.
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