Penny Stock? Hardly
One of the, umm . . . downsides of sporting a 3-digit share price is that the gyrations are bigger, too (at least nominally).
So, Google’s stock dropped $68 a share today immediately after disclosing that their latest quarterly earnings were disappointing.
Make that, before they disclosed their quarterly earnings disappointment (their financial printer slipped up and released the news early by mistake).
That $68 drop certainly seems like a lot — at least until you realize that Google’s been selling for between $650 and $750 a share lately.
Think a $68 drop is big?
Berkshire Hathaway — Edina Realty’s ultimate parent company — slid $366 today.
No biggie: that reflects a miniscule .27% change in its share price, to $135,400.