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Technology Stocks : Alphabet Inc. (Google)
GOOGL 337.83+1.8%1:00 PM EST
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To: Wayners who wrote (297)8/6/2004 5:46:39 AM
From: RockyBalboa  Read Replies (1) of 15857
 
I tend to agree with that assessment. If it is at the YY price, which could mean it is fully valued, or priced for perfection, and possibly more expensive than yahoo, who in the world shall support it in the market?

Only thing which will stabilise it is some additional short interest which could buy, but evidently at much lower prices. But with no "lever" in the form of relatively cheap shares from the offering for an institutional purchaser the incentive to keep the shares is even lower.

I do remember many IPOs in 1999 which were still decently priced and left something over for initial buyers and to some extent buyers at the market thereafter. (Ironically some lawsuits alleged that those shares have been priced artificially low providing the initial buyers with some "instant" gain, which overlooked the fact that they were exposed to market risk by having the shares locked up for one year).

They should shelve the offering and perhaps later sell it to an institutional investor or to microsoft. Actually, Microsoft could perhaps use their cash for it instead of paying out a large dividend.

And then, the news with the illegally issued shares delaying the google IPO is pure bullshit. The reality appears to be that the deal cannot get done unless.... the final sale prices much lower than the result of the auction.
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