Thursday, October 18, 2012

Google takes a bath on a mistake ...

Trading in Google shares have been halted at the request of the Company.  Earnings were supposed to be released after the trading day but someone at the filing agent, RR Donnelly, had a fat finger and prematurely released the report.  Needless to say from the chart below, the earnings report was not a good one.  The stock lost about 19 billion dollars in capitalization in about 20 minutes: