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Thursday, August 19, 2004
Latest word on the Street is that the auction winners will receive their Google shares at the low end of the revised range: $85.
I beat the bushes and surveyed the landscape to find out what the search industry junkies thought of this price point, and where they thought Google might be a "buy." I mostly got answers like "No way, Jose," and numbers between $25 and $45. Liberally sprinkled into the mix were some "don't quote me, I am the world's worst when it comes to the stock market."
But Raging Bull founder Bill Martin, who along with Matt Ragas runs FindProfit.com, a market advisory letter, stepped up to the plate. "At $85, I'd probably buy it for a trade," says Bill. "If it opened even lower than that, I'd definitely scale into it for a trade."
When market close comes around, millions of eyes will turn away from the toils of August to check out the closing price on GOOG. Having digested the info, they'll go back to whatever they were doing, be it preparing a lesson plan, writing code, or extolling the merits of the Belgian shot put team.
As one fearless leader once famously stated: "we'll stop at nothing until those crazy Google kids are given their comeuppance. Now watch this drive."
The pre-IPO hand-wringing and speculation are over. Hopefully now Google, and the rest of us, can get on with things.
Posted by
Andrew Goodman
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D'oh!
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