Google’s stock has fallen below the $20 mark after its search engine struggled for several hours in early Tuesday morning.
Google stock has declined by nearly 15 per cent in the last 24 hours.
The stock was trading at $20.21 at 9:52am local time.
Google is now down more than 13 per cent this year, while Facebook is down more in recent times, down about 15 per for the past year.
Google’s CEO Sundar Pichai was not available to comment on the news, but the company is under fire for failing to respond to its own inquiry.
Google lost control of the search engine in May when it became clear it had no plans to upgrade its software, and the company subsequently sold some of its data-mining services to Microsoft.
The company also announced it was launching a new version of its search and advertising platform Google+ that was designed to compete with Facebook’s own online service.
Google+ is currently available only on the US market.
It is not yet available on the Australian market, though Google is reportedly working on it.
The latest decline comes after Google CEO Sundaro Pichari was forced to resign in April.
In February, the company had to issue a statement explaining its search results, after it was revealed Google had failed to respond properly to inquiries from the US Department of Justice.
“The search engine has failed to follow its own internal process and we believe that this has contributed to the poor performance of Google+ and the broader search marketplace,” Google said at the time.
“We are working hard to improve this experience and to address the performance issues identified.”
Google also recently announced it would begin phasing out Google+ ads from its services.