Mark Cuban clashed with “Fast Money’s” Karen Finerman over Google. The long and the short of it is that Google may have lost its former glory, or maybe the best it yet to come, if it makes a smart acquisition. The search engine Goliath has had a tough time recently on news released by StatCounter that its search market share dipped to its lowest monthly level in December since 2008. In addition, its rival Yahoo has made a deal with Mozilla, and Stifel Nicolaus downgraded Google from a Buy to a Hold, with the analyst commenting, “We do not see a significant sources of future upside for shares and believe the best days for shares may be behind it.”
Mark Cuban said the old grey Google mare ain’t what it used to be; “Google is a great place to look for things that have been around for a while. But it’s not a good place to look for what’s happening now.” Cuban thinks Twitter is immensely superior to Google as a search engine.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Fast Money’s Dan Nathan, who is long Twitter, agrees and thinks Google should buy Twitter, since it has not social media or messaging strategy. “This kind of fits a lot of things Google should be using its $65 billion in cash for.”
However, Karen Finerman, President of Metropolitan Capital, is long Google and thinks it is still “an incredible formidable force in search. The valuation is extraordinary for a company in this position.” She acknowledged that buying Twitter might be a decent strategy for Google, but she thinks the cash could be used effectively in buying back shares.
