Sell - why sell now? It is down 58% from its 52 week high. Google has fallen almost 32% in 2008 and the S&P has only dipped about 5.4%. So I cannot see a reason why one should buy. Furthermore, the company has not gone through a recession while being publicly traded--who knows how it will perform during economic hardtimes. If I owned the stock, I would hold. I would not sell, nor would I buy. I think there are better values out there right now. Some of them would be CHL, TT, MMC and BX.
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