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Friday, April 30, 2004
Color me skeptical. Google's IPO has been the big buzz among techies this week, especially with their Dutch auction way of distributing the shares. Two points:
1) I don't much care for the Dutch auction, since I have to go through one of two big brokerage houses to offer on the IPO. Why can't I buy into it without opening a $10,000 brokerage account? How is this getting the "little guy" into Google stock? Answer: it isn't.
2) Remember Red Hat's IPO, which sprang to well over $200 per share? Well, I do. Several of my friends bought into it. (I told them not to buy into a company that offers a FREE product, but that's another topic.) I think Google will be very volatile initially, and then will eventually value around the $10-15 that is being projected for the IPO.
Melanie Hollands of the IT Manager's Journal says:
If it were me, I'd buy whatever I could get in the IPO or at the opening bell and flip out of it ASAP. But as a long-term hold (long-term meaning in this case anything more than a few days), I wouldn't touch it.
I concur.Labels: Archives_2004
.: posted by
Dave
5:14 PM
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