Updated: Glitch Causes Bizarre Google Trading; But Yahoo’s Quote Is Quite Real

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imageAfter yesterday’s bloodbath, the markets rallied back hard — possibly on optimism that a deal will be saved. Tech shares, which took it really hard, snapped back, with the NASDAQ gaining over 5 percent. Yet the final quote on Google (NSDQ: GOOG) is a decline of 10 percent, almost all of it coming in the final few minutes of the day. What gives? Not clear. The stock snapped back after hours (it’s now back over $400), and the NASDAQ is looking into the bizarre activity.

So while you can safely ignore Google’s closing price, Yahoo’s (NSDQ: YHOO) closing price is actually real. On a day when its peers snapped back hard (Amazon (NSDQ: AMZN) up 15 percent, eBay (NSDQ: EBAY) up 12 percent, Apple (NSDQ: AAPL) up 8 percent), Yahoo gained a lowly 2.49 percent, recouping just a slice of the nearly 11 percent yesterday. It’s a sign of how little faith there is in the company right now. And at $17.30, it’s well below the $20 that was once seen as a danger level. To get up to the long-gone $31, it would need to gain over 80 percent.

Update: For what it’s worth, the NASDAQ attributed Google’s crazy trading to a routing error, and the exchange canceled trades between 3:57-4:02 PM ET. The final closing price was changed to $400.52.

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Yahoo is an awful company that rejected a $33/share price a few months back. WHY? Because Jerry and Sue had a plan. What was the plan? No one really knows…

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