Google Tops $500 a Share Again – An Indication Of How Crazy This Market Is
Google (GOOG) hit $500 a share today while earlier this year, it was at a low of $247. Yep, you got it, that’s over a 100% increase. While at risk of sounding like a broken record, this stock market is crazy.
So, the question is: Who the heck is buying Google at $500 a share? Is that what you call a good entry point? Wow.
Don’t get me wrong. Google is an incredible company. But this valuation is completely out of control.
My guess? We are days away from a severe market correction. While I’ll probably be wrong (as I’ve been wrong all summer), the risk here is getting crazy. I hope you all put your seat belts on.