Google investors are learning this week that the company’s stock price can’t defy the laws of gravity.
After briefly hopping over the $200 mark this week, Google shares dropped 8.3 percent Friday to $169.35, one of its biggest declines since the company went public in August.
Friday’s drop, which followed a late-afternoon sell-off Thursday, was apparently related to a cautious research note issued by UBS analyst Benjamin Schachter. Investors may also be dumping the stock ahead of Nov. 16, when insiders will be allowed to sell a chunk of their shares, adding to supply. More