Tuesday, August 17, 2004

Google IPO delayed and bargain bet's on the way

The SEC will not turn the green light and some investors have also make some bids on the aunction fail :

In his own five-step bidding strategy, Pincus explained, his faith in Google as a wise investment decreases with every US$10 increment. And so, on Saturday morning, Pincus placed five separate bids on Google: US$1.5 million at US$50; US$1 million at US$60; US$500,000 at $70; $400,000 at $80; and "for the fun of it," a US$100,000 allotment at US$90 a share.

As for Abraham, several weeks ago he had planned to bid on 5,000 shares. But as the market for technology stocks plummeted and Google committed a series of public stumbles, he trimmed his appetite to 1,000 shares by the time the auction opened on Friday morning.

On Friday, Abraham placed bids for 200 shares at five different prices: US$110, US$102, US$95, US$88 and US$75.

If the final price is set at US$90, Abraham's first three bids would be accepted. He would end up with 600 shares, at a cost of US$54,000.


Note: The initial price of the aunction have been set between $108 to $135 range.

I'm sure will see soon a movie on this saga of the Google IPO ;-)

No comments: