Here a new link with the same story here:
Google Stock Gobbled by Fidelity Investments
Fidelity Investments, the world’s largest mutual fund manager, bought $549 million of stock in search engine Google’s IPO, about 23 percent of the shares offered during the initial public offering. Fidelity reported in a filing with the U.S. Securities and Exchange Commission that it now holds 5.21 million Google Class A shares. That’s about 16 percent of Class A stock and 1.9 percent of Google’s total shares outstanding.
The Boston Herald reports
“We don’t comment on buying or selling of individual securities, nor on SEC filings,'’ said a Fidelity spokesman yesterday. Fidelity’s fund managers tend to be shrewd, but on balance conservative, stock pickers. “Fidelity has a very good research department, and a particularly good group of technology analysts,'’ adds John Bonannzio, commentator at Wellesley-based research firm Fidelity Insight.”
The Herald adds that Fidelity could be sitting on a $100 million dollar profit in a month - wow.
This last line is the best! Not $100 but normally at least 325,2 million dollar profit in around 40 days if you look at thoses:
5.21 million actions (buy in august and september) x $110* = $573,1 million
5.21 million x $172.43** = $898,3 millions
* Higher price reach since the IPO at the moment of the news release of the buy)
** Price at closing today
Difference : $325,2 million at least in less than 2 month!!!