Biz Brief: Google Gives Up Another $13 a Share
Even more ghastly, the world's dominant internet company is down 35% from its all-time closing high of nearly $742 set back on Nov. 6, 2007. The S&P 500 has lost 31% over the same time frame. In other words, the broader market has beaten Google by four percentage points since shares hit their record high.
If there's a sliver of a silver lining, Google looks extraordinarily cheap by at least one fundamental measure. With a forward price/earnings multiple of 15, shares offer a 50% to their own five-year average, according to data from Thomson Reuters.