It was a stock split. If Google's stock actually fell by that much, the entire country would be in frenzy. You should always look at market cap in addition to stock price. Market cap will be roughly the same after a split.

In addition, stock splits usually don't really mean anything, even though people get excited about them for some reason. They are really just a way for a company to increase the liquidity of their shares. Lower priced shares are more liquid increasing price, and more importantly market cap. The case with Google however is particularly interesting and drawing a lot of attention not only because this is their first time splitting stocks, but also because they did it in such a weird way. I'd suggest reading an article that explains it fully, it's pretty interesting.

Google has 3 different stock tiers:

A

B

C

B is not available for sale, and is worth 2 votes per share

A (GOOGL) is worth 1 vote per share

C (GOOG) has no votes per share

They added C stocks to their offerings so they could continue raising capital, while the heads of the company didn't have to give away any more power. All shareholders were compensated with equivalent stock..

Nothing to worry about

There was nobody left that believed it was "worth" the higher value. Google price is mostly based on speculation at this time. Just because they have some assets (money in the bank) does not mean they will pay dividends to the shareholders.

Maybe there are rumors someone came out with something better; or maybe someone is going to sue them.

Who knows?

Why did the google stock fall 500+ points between 4/2/14-4/3/14. What caused this fall?