Monday, February 20, 2006
Google Takes the Road More Traveled:
"...Google seems to be giving in to traditional Wall Street tactics and shifting their attention toward the big money buyers.
TheStreet.com contributor Kevin Kelleher had an article on Friday that talks about Google's move to gather feedback from high-end stock buyers. Kelleher's article comes on the heels of Jonathan Burr's article about Google's shift toward traditional Wall Street thinking and their call to certain investors asking what they'd like to discuss at next month's investor's phone call.
The call, coming up on March 2nd, will aim to gather some insight into why Google's stop has experienced an 18% loss so far this year. From Kelleher's article:
But hold on: Wasn't this the same company that threw down a gauntlet in its now legendary IPO prospectus, declaring it wouldn't kowtow to the self-serving rules of institutional investors? In April 2004, the tech pundits declared that a big blow for the small investor.
Here in February 2006, it seems that losing nearly $40 billion in market cap in a few weeks can demolish a lot of ideals. Now that the chart of Google's stock has started to resemble that of a myocardial infarction, the company is keen on reaching out to investors -- not all investors, only those who bought big chunks of its secondary offering last year.
For any poor slob who managed to buy 1,000 shares in the Dutch-auction process that was supposed to change things for the better -- well, it seems you're out of luck..."
"...Google seems to be giving in to traditional Wall Street tactics and shifting their attention toward the big money buyers.
TheStreet.com contributor Kevin Kelleher had an article on Friday that talks about Google's move to gather feedback from high-end stock buyers. Kelleher's article comes on the heels of Jonathan Burr's article about Google's shift toward traditional Wall Street thinking and their call to certain investors asking what they'd like to discuss at next month's investor's phone call.
The call, coming up on March 2nd, will aim to gather some insight into why Google's stop has experienced an 18% loss so far this year. From Kelleher's article:
But hold on: Wasn't this the same company that threw down a gauntlet in its now legendary IPO prospectus, declaring it wouldn't kowtow to the self-serving rules of institutional investors? In April 2004, the tech pundits declared that a big blow for the small investor.
Here in February 2006, it seems that losing nearly $40 billion in market cap in a few weeks can demolish a lot of ideals. Now that the chart of Google's stock has started to resemble that of a myocardial infarction, the company is keen on reaching out to investors -- not all investors, only those who bought big chunks of its secondary offering last year.
For any poor slob who managed to buy 1,000 shares in the Dutch-auction process that was supposed to change things for the better -- well, it seems you're out of luck..."
Comments:
Post a Comment
