Sunday, August 29, 2004
The New York Times > Business > Your Money > Digital Domain: Google, Shmoogle. The Biggest I.P.O.'s Went Unnoticed.
The New York Times > Business > Your Money > Digital Domain: Google, Shmoogle. The Biggest I.P.O.'s Went Unnoticed. "The shares of Google, the Most Popular for the Moment, held up last week. Closing at $106.15, Google has secured a market capitalization of $28.79 billion, incomparably ahead of Microsoft at a similar point in its life. Given history and investor inclinations, the question that is bound to be asked is this: Will Google have a halo like Microsoft's, benefiting the many other hopefuls in tech? This is a question of pure psychology, nothing more. Experience suggests that "halo" is a euphemism for "investors turning bullish en masse for no substantive reason.""