Google shares hit new 52-week low! $312.08!

Good grief! Google shares hit new 52-week low earlier today, an amazing $312.08! What the heck is going on!?

Edited on October 11th 2008 2:47 AM:

Forget that $312.08, folks! Google shares hit another new 52-week low just a few minutes ago, $310.32!

Edited on October 11th 2008 4:20 AM:

I was wrong! Google shares staged a late rally and managed to close at $332.00, a little tad better than yesterday’s closing price of $328.98. Google shares also have another new 52-week low too, $310.30.

What a day!

Google, GOOG, Nasdaq

I did some digging and found that one guy is lucky enough to buy Google shares at $312.08 and he tweeted about it at Twitter! Check out Fred Wilson @fredwilson.

Google, $312.08, Fred Wilson

Google shares are trading in the $315 to $320 range at the moment but there’s no way that it can go above yesterday’s closing price ($328.98) today. No way!

I guess Google employees can kiss their stock options goodbye, at least for now.
Its shares tried to rally in the morning, but are now trading below the $329 they closed at yesterday. That’s a key price level Google employees are watching because a huge chunk of their options (1.7 million across the company) were granted with a weighted average exercise price of $329.78. The options are worthless under that price.

Source: TechCrunch

Well folks, looks like those poor Google employees have been GOOGed!
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