Goldman Sachs Takes Google Off “Conviction Buy” List

Recent stock dive proves difficult to ignore

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Sorry, Google fans, but from a financial perspective, the search giant seems to have lost some of its luster.  Goldman Sachs hasn’t come close to suggesting that anyone sell their stock – and is in fact still recommending that people buy more – but at the same time, the firm has removed Google from its "Conviction Buy" list.

You can blame the nasty dive Google’s stock took following the company’s quarter one earnings report for this move; a drop from $595.30 at the closing bell to $563.00 at the opening one definitely counts as "underperformance," and Google’s stock has since fallen further to around $536.24.

GoogleWhat’s more, five-day, one-month, three-month, and six-month views of the stock’s performance all show losses.

Google’s stock is still up 38.92 percent if you look at it using April 28th, 2009 as a starting point, though.

Google’s stock is up this morning, too, by a not-unimpressive 0.87 percent.

By comparison, Microsoft is up 0.15 percent, Yahoo’s down 1.15 percent, the Dow’s down 0.14 percent, and the Nasdaq’s down 0.13 percent. Google’s shareholders don’t exactly need to go calling for anyone’s resignation just yet, then.

Goldman Sachs Takes Google Off “Conviction Buy” List
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  • http://www.tomdegan.blogspot.com TomDegan

    As Jimmy Paige once wrote – or was it Robert Plant? – “It makes me wonder”. I wonder what defect it is in the psychological makeup of a group of human beings that would have them putting the health and well being of millions of other human beings behind the private profit of a very few. Most of these lawmakers who live in the pockets of the Plutocracy call themselves “Christians”. Have they ever made a serious study of the books? You know! – Matthew, Mark, Luke and John? – Those guys! How do they justify their actions? How do they sleep at night? We’re talkin’ major hypocrisy here! That’s what makes them so much fun to watch! I always get a certain twisted delight in watching their fake piety. Imagine Wendy O. Williams being cast as Bernadette of Lourdes; or Marilyn Manson as Mahatma Gandhi. It’s kind of the same thing.

    Sooner or later our right wing friends, within the Congress and without, are going to be forced to admit that the era of anything goes deregulation was a really stupid idea. You can only sit calmly in a burning house, ignoring the flames all about you, for just so long. Sooner or later you’ll be forced to flee for your life. After making your escape, if you still refuse to acknowledge that the house is indeed on fire, you’re beyond the point where you can make rational decisions on your own. You’ve entered Librium Country, hombre!


    Tom Degan

  • guest

    Facebook is the talk of the country now. I changed search engines to Yahoo. I can’t find anything on Google anymore unless I go to page 2. Good sites have disappeared from their index too.

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