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Shareholders continue to lose big time on their stocks as market rates keep falling. We had earlier reported Apple and Yahoo suffering extensively as shares for Apple sunk below $90 and those of Yahoo just above $15. The axe has started to weigh in on Google as well with its rate coming down to $350.
Google has lost $50 dollar in less than a week and the current value for its stock is the lowest it has touched in the last two years (March 2006).
This triggers a anger amongst the shareholders who will have growing concerns about where Google is spending all its its budget. So Google must be prepared for a better accountability to its shareholders that might just result in cutting short the large number of beta services that generate no revenue and are a burden to maintain. Plus there is always firing people to cut costs (something that has been in practice by many in the business).
The question however stands how badly is this going to affect Google? No wonder the stock rates are much higher than all it’s competitors but given Google’s shares that soared at twice the present rate; it’s far too great a fall. Although the major hit has come from the economic recession but its rates had steadily been sinking for the current year.
So what’s coming its way? Cut off in staff, spending, no more free candies or lavish cafes? Is Google on the verge of taking a slow and steady decline down the dominant thrown? Well it might be too early to predict or even think about that (as it still maintains its dominance), but one thing is for sure, people’s perception of Google being the Mr. Right of the web is bound to change.
