Google Earnings Disappoint
July 16, 2010 by admin · Comments Off
See what happens when you miss analysts estimates by 1% – Google stock takes a 5% beating, down $24 as of this writing.
That’s right, Google earnings estimates was $6.52 versus actual at $6.45. Ouch.
It will be interesting to see if GOOG can close higher than today’s opening of $469.12. Maybe, just maybe, this will be a slight blip in the cent rally from the early July lows.
Lower term, the stock price has lost a lot of momentum. The stock recently peaked out around $600 / share near USA tax day, 15 April. Even the once rising 200 day moving average (~$540) has started to roll over to the downside.
