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GOOG off to the races!

http://finance.yahoo.com/q?s=GOOG&d=t

Crackhead
Thursday, August 19, 2004

I would have preferred GGLE.

Alex
Thursday, August 19, 2004

Bravo for Google.  I'm glad to see that they're getting a nice boost from their opening price.  I live for the day when technologists can tell the likes of Goldman Sachs to screw themselves.  Google successfully has shown us the way.

hoser
Thursday, August 19, 2004

6 months from now GOOG will be trading at a fraction of the current price.  Everyone who bought at $85+ will be screwed and a handfull of insiders walk away with $400 million.

Do No Evil my arse.

Art Vandelay
Thursday, August 19, 2004

"Bravo for Google.  I'm glad to see that they're getting a nice boost from their opening price. "

Why? Ultimately this is exactly what Google didn't want - they themselves wanted to capture the market peak, and clearly the efficient market of the dutch auction wasn't fully successful.

Of course this is (IMHO) a hilarious short-term day, unjustified runup and it'll be at the cost of all of those who think they're at the onset of a runup rather than preceding a precipitous drop.

Let's revisit this in two weeks. :-)

Dennis Forbes
Thursday, August 19, 2004

Yep, today and tomorrow are not the days to value the company, statements like 'this capitalises the company at $23 billion' are just nonsense.

Simon Lucy
Thursday, August 19, 2004

Actually, is not Yahoo valued around $2 billion?  I would say that Google is Yahoo's equal, and while Google's feature set is less than Yahoo's and visitor "staying power" less than yahoo, I am guessing (without specific knowledge) that Google has built an infrastructure that can easily accomodate new features with large capacity more easily than their peers.

Having said that, I don't typically own shares in "internet stocks" - the most go-go I get is MSFT and IBM, where you can actually figure a decent valuation against not just tech but the broader market.

As for "do no evil" - this is the stock market.  There is nothing
"safe" out there.  Buyer beware is always the rule.

hoser
Thursday, August 19, 2004

From CNN.com: "A few minutes before the shares officially opened for trading, the market saw a false start when the shares appeared to debut at $136. But a Nasdaq official said this was the result of two trades that "should not have gone through."

Nasdaq declined to comment further."

Did they get hacked?

devinmoore.com
Thursday, August 19, 2004

hoser - yahoo valuation is 38 billion .

http://finance.yahoo.com/q?s=yhoo

.
Thursday, August 19, 2004

"Did they get hacked?"

No some large playas tried pulling a fast one no doubt.

Mike
Thursday, August 19, 2004

The the damn investment bankers got the last laugh. They got their shares at $85 and are dumping them to the suckers who they excluded from the auction at $100 (as of right now)

Miles Archer
Thursday, August 19, 2004

Anyone could have bought Goog for 85 bucks if they wanted to.  The process was purposefully designed to allow any person to buy as few as 5 shares.  I can't disagree about the idiots who bid it up to $100+ a day after they could buy it for 85...

chris
Thursday, August 19, 2004

Back up to 100+ now.

Matthew Lock
Friday, August 20, 2004

I heard that people didn't get all the shares they bid.

Someone might have been for 100 shares at $100. They would have gotten maybe 75 shares at $85, but they still want 25 more shares, and they think it's worth $100, so they went and bought 25 shares on the open market. It doesn't mean they're an idiot.

Joel Spolsky
Fog Creek Software
Friday, August 20, 2004

Sorry Joel, but in my opinion anybody buying shares with a price to earnings ratio of over 100:1 is, if not an idiot, at the very least an incurable optimist.

Stephen Jones
Friday, August 20, 2004

If y'all are so confident the GOOG price will drop, you could always buy some puts or short the stock.  (This is not investment advice.)

Jeremy
Friday, August 20, 2004

Well... Joel has an interest in GOOG doing well.  He owns stock!

chris
Friday, August 20, 2004

>Anyone could have bought Goog for 85 bucks if they wanted to.

Are you saying the public could have purchased shares at that price? I don’t think so!

The price at which joe public could purchase shares was about 100 bucks, and that is the same price that the stock closed at on the first day.

The above is actually quite surprising, because MOST tech IPOS actually closed LOWEVER then their FIRST TRAIDNING of the day. (on average about %15 down…not exactly a good one day return…is it !!!).

Palm stock, and large number of other IPO’s I looked at actually all closed  down by the end of the day. Sure, the news reporters state that the stock opened at $85, and was up for the day…but that is totally misleading. You cannot look at the IPO price, since traders and public don’t get it at that price. Based on this kind of knowledge, then that is why I did not purchase palm stock.

The problem is that you have to put in a order at market value trades (you can’t say by x number of the stock at $95, since you would NOT get it. Further, you don’t want to say purchase x number of shares at $110 either!. So, the only thing you can do is tell your broker to purchase $4000 worth of the stuff at market value (whatever the trades are occurring at). This is the ONLY way to get trades on the first day of a IPO. And, as mentioned, in MOST cases, you would have lost 15% to 20% on the first data if you purchased at market values on the first day of trading. (after all, money don’t grow on trees….well…except for the IPO share holders!).

The ONLY benchmark here is what could Joe public purchase the shares for, and at the end of the day…how much were they up.

However, $85 dollars is a rather HIGH ipo price…and those employees will be dumping this stuff as fast as they can….I know I would!!! $85 has a huge potential downside right now!


Albert D. Kallal
Edmonton, Alberta Canada
kallal@msn.com
http://www.attcanada.net/~kallal.msn

Albert D. Kallal
Friday, August 20, 2004

>Are you saying the public could have purchased shares at
that price? I don’t think so!

Well... the American public could before the stock was traded on the market.

chris
Saturday, August 21, 2004

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