Google Stock Plummets: Blame It On the Lemmings

The cataclysm that hit global markets over the long weekend has affected technology darling Google, which has seen $16.15 billion shaved off its market cap since closing at $600.25 per share on Friday.

googlejan2008.gifToday the shares fell to change hands for as low as $519 before recovering somewhat to end the session at $548.62. Analysts at Citi issued a note pointing to a deceleration in its growth (based on comScore data), tenuous ties to the plummeting shares of Apple (they both get called tech darlings a lot in the media), and a slowdown in its paid click growth.

Of the three I’m going to vote on a slowdown in advertising as being a good reason to sell, although the lemming thesis involving Apple is more fun to write about.