Google shares fall below $500

Following Microsoft's offer to buy Yahoo, Google's stock price drops below $500 for the first time in about six and a half months.

Maybe a roller-coaster ride is just the distraction Disneyland-bound Googlers need to get their minds off the company's falling share price.

Google's shares closed Monday at $495.43, the first time they've closed below $500 in about six and a half months. The dip follows news that Google's two main competitors could possibly merge. It also comes as employees take a company trip to the Southern California amusement park.

Google's shares had been sailing to what seemed like never-ending heights, hitting a record high of $747 last November. However, they have lost 30 percent since trending downward late last year amid a larger market downturn, and have fallen by a third since their record high.

The recent shock to Google shares came on Thursday evening after the company announced fourth-quarter results that just missed Wall Street expectations . The shares got dinged again on Friday after Microsoft announced a $44.6 billion offer to buy Yahoo.

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About the author

Elinor Mills covers Internet security and privacy. She joined CNET News in 2005 after working as a foreign correspondent for Reuters in Portugal and writing for The Industry Standard, the IDG News Service, and the Associated Press. E-mail Elinor.

 

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