GOOG Going Down Like a Plane on Fire

I'm sure everybody interested remembers about the big names at Google saying they are certain that the coming recession will not harm their company and that they have ensured that "everything will be well." This expression is overused in movies, but unlike with the stock market, whenever a character says it, he most likely will die a long, slow and excruciating death.

Back to business, Google managed to drop to a 52-week low yesterday, shares being traded at a mere $413.62. Kind of makes the good old days (or should I say GOOG old days) when they were going for $747 (hence the plane on fire metaphor in the title) look like an erotic dream in the morning, when you wake up. You still remember details, but you have the distinct feeling that it's gone and you won't see it happening any time soon.

Should you be interested in actually seeing the stock plummet, take a look at the screenshot on the left, it's a doozy. Some quick math that I've been never really good at, but I think I got it right, says that in October, when shares hit the all time high, GOOG was worth $234.094 billion, but after the fall, the company is only worth some $129.62 billion. Anybody else get the feeling that the Twilight Zone is happening right now?

I know I'm no stock expert, but I would hold on to my shares if I had any, because after all, this is Google we're talking about, and not some random startup that saw quick fame and, after people got bored with it, is heading for the dumpster of the Internet. I would rather say that Google is one of the most stable companies to invest in right now, and to paraphrase the buck, in GOOG we trust!