Google\u2019s stock has been hammered over the past two weeks and Henry Blodget blog posts have been in <\/p>\n
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the thick of the action. Last October when Google was on a bull run, Blodget had come out with a post about Google going to $2000<\/a>. He had followed up with another post on November 27, where he did felt that a price target of $1000 was very plausible. However, his tone has become increasingly negative over the past two weeks. <\/p>\n <\/p>\n Blodget identified a revenue miss warning <\/a>in Google\u2019s 10K on February 19, and quoted an entire paragraph to illustrate that Google talking revenue expectati <\/p>\n ons down. <\/p>\n As it turned out only one sentence in that paragraph was new and he subsequently clarified that. <\/p>\n <\/p>\n <\/p>\n He followed it up with a post on February 22 about Google\u2019s exposure <\/a>to the recession based on an insider (who turned out to be a digital-ad industry insider). He was very suspicious of Google\u2019s tweak to the AdWords algorithm in his posts on February 24 <\/a>and 25<\/a>. But he beat his own prolific output on February 26th. <\/p>\n <\/p>\n February 26th was an eventful day. <\/p>\n <\/p>\n <\/p>\n The day started early (5:40AM) for Henry with a grumpy post about Google\u2019s participation <\/a>in the trans-Pacific cable. But he really hit the panic button with his post reporting the lower Comscore estimate of paid clicks at 7:16AM<\/a>. He followed it up with a post at 10:58AM<\/a> dismissive of analysts\u2019 efforts to defend Google\u2019s stock.<\/p>\n However a strange thing happened as the day wore on. <\/p>\n Google\u2019s stock made a V shaped bottom at around $450. Blodget\u2019s next post at 12:22PM<\/a> highlighted the bullish call from RBC\u2019 s Jordan Rohan. <\/p>\n <\/p>\n <\/p>\n There was a follow-up post confirming the reversal at 2:02PM <\/a>which talked about the bargain Google was at 32x Future Cash Flow.<\/p>\n So do have we hit a near-term bottom on Google? The candle-stick today had the hammer <\/a>formation on huge volume, which often signals a reversal. <\/p>\n A lot of instituti ons have also lightened up <\/p>\n on Google over the past few months and they may be looking to come in again. <\/p>\n <\/p>\n And Blodget has also reversed\u2026.<\/p>\n","protected":false},"excerpt":{"rendered":" Google\u2019s stock has been hammered over the past two weeks and Henry Blodget blog posts have been in allergy bactrim or~~ –> buy antibiotics online and pay cod the thick of the action. Last October when Google was on a … Continue reading