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August 17, 2004

Google IPO Shortage of Bids

default — by TDavid @ 2:02 pm PST

Uh oh for Google, but perhaps good news for investors wanting to get a good deal on GOOG stock. CRM News:

It’s not even that investors aren’t bidding the proposed price of between $108 and $135, but that Google isn’t getting enough bids at all, according to the banker, who asked not to be identified.

I’ve been very skeptical of a stock price above $100, and it appears that I’m not alone.

But some investors — including more than two thirds of those who answered an unscientific online CBS MarketWatch poll — said they’re not interested in Google shares at any price.

I hope even more investors feel this way so the price will go down to what it’s really worth (which again, I don’t think is over $100/share).

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