[pheug]

They already dropped by 20% from peak. Are you saying they should drop by all 50%? That doesn't make sense. Market is forward looking. Assuming a fast recovery, a couple bad quarters would even hardly matter in the long term. You can model that mathematically using tools like DCF valuation.

Another thing, Google has an exceptionally strong balance sheet and can weather this recession for many years if need be. They're not going bankrupt any time soon. You don't go and just short such companies when there's still plenty of leveraged junk out there.