Makes No Sense: Google Stock Pummeled By Iffy Third-Party Data
The crux of his argument is that comScore's data is iffy at best. "So the fact that alleged stock experts and the overall market in general is using this data to cut billions of dollars of market valuation off Google (or any other Internet stock, for that matter) is concerning," Rodnitsky says. "It basically shows that the general public really doesn't understand Internet advertising well enough to accurately determine an Internet company's worth."
Rodnitsky also raises the question of whether such turbulent share price fluctuations (from more than $750 a few months ago to yesterday's $470) mean that Google's valuation has been built upon too much hype and not enough substance--particularly if it could be pummeled by such "trivial" data.
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