Google then released a test version of Google+, its social-network answer to Facebook, and the stock soared past $650. My second-guessing was magnified when Mad Money maven Jim Cramer touted Google as the only company that was a leading player in all three Internet markets-of-the-future: cloud, social, and mobile (Apple doesn't have a major social-networking presence).
Last week Google released quarterly earnings that fell short of analysts' expectations, and the stock plunged $53.58 to $585.99 on Friday. It may look cheap to some investors, but that price is still substantially higher than the point at which I sold it. More importantly, the past year has not added to my enlightenment. I still don't understand the company, so for the time being I'm not getting back in, despite the delicious lunch Google serves at the shareholders' meeting.
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| Even after its plunge, GOOG has performed better than the averages since May. |
[Update - 1/25/2012: the WSJ publishes more information about the $500 million forfeiture that Google paid to avoid prosecution for aiding the sale of illegal pharmaceuticals. It's not new news, but the questions about GOOG's management can only get louder.]
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