Shares of Google closed today under $300 a share for the first time since October 2005,, effectively wiping out 3 years of profits.
Shares hit an interday low of $287.86 before closing at $291.
Shares have been battered this week as analysts predict slower revenue growth for the fourth quarter amid signs that Internet users are growing less likely to click on advertising links, Google’s main source of revenue.
Analysts from Goldman Sachs and Barclays Capital both lowered earnings and revenue estimates because of the deteriorating economy.
Citi analyst Mark Mahaney joined them Wednesday, predicting the growth rate in online advertising will “slow materially” in the fourth quarter.
As Google get squeezed, domainers will get further squeezed as our parking revenue dropped while Google earning increased. Now that Google earning are predicted to decrease what will become of paring revenue?