What happened to Google stock?

60 points is a large number, but when you take into account that prior to this it sat at Around 770 points total… it kinda puts it into prospective. Still, it’s an 8% drop off, pretty large for one day.

this link should explain it. Basically a bad earnings report and paired with a few other small things.

Missed the experts estimates. Big drop though. Probably time to buy!

All I heard about it this morning was that it is the result of someone having made an error in reporting some figures, i.e gave a much lower figure

It actually dropped about 80 points in about 80 seconds.

RR Donnelly, which was supposed to file the earnings at 4:30 ET released it early by accident, and it was incomplete. As soon as trading firm computers picked up the release and analyzed it, the stock went in the sewer. It was halted about 15 minutes later until the accurate and revised filing could be released.

When the stock re-opened, it opened up 20 from the halt, but off 60 on the day. That is not unusual for GOOG at earnings time.

Here’s a chart showing price movement today.

Yes, NPR said a bad third quarter earnings report was released early. Apparently revenues from advertisers are down because advertisers are less willing to spend on mobile device advertising and also the purchase of Motorola has affected earnings as well.

Their numbers were released without permission before they were ready to go public with it and explain why the numbers were where they were. Much of it had to do with the acquisition of Motorola, and other things with unearned income numbers that arent’ going to show until the next quarter.

Someone’s getting fired.

Before I responded to the OP I tried to find in the search results for some word like “error”.

Might have something to do with the DOJ antitust lawsuit. Couple that with their earning report, a drop was bound to be the fallout!!!

@LadyMarissa This Q is from 2012. There is a current one saying that Google stock rose the day after the anti-trust investigation went into effect.

Today, (October 21, 2020, 1:17 p.m. ET), GOOGL is up $45.46.

The market thinks the DOJ lawsuit won’t prevail.