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An Open Letter to Everyone Who Sold Massive Quantities of Google (NASD: GOOG) Today, Driving the Stock Down 27 Points:
You probably should not have owned the stock in the first place if it took an overt statement from the CFO to get it through your heads that search is no longer the primary area of growth for Google. If that's news to you, it means that you've somehow missed the 1,827,384 articles, white papers, blog posts, about Google advertising, projects in Google R&D, Google's competitive position vis-a-vis non-search properties, etc. And we're not sure how you could have possibly done that, but we're guessing you've missed out on a few other things in the meantime:
· Philip Morris: No longer just cigarettes! (No longer called Philip Morris, even!)
· IBM: Revenue for mainframes down!
· Enron: No longer exists!
You're welcome.
Stocks Fall On Signs of Weakness in the Economy and at Google [NY Times]