- overpriced? based on some technicals
- underpriced? The Wall Street Journal [sub req] wrote an article about them being a value play.
- currently there is more chatter about them being added to the S&P 500 & Nasdaq 100.
- that supply imbalance could be partially offset by Google's announcement today that they intend to do a secondary public offering of 14.16 million shares.
- on their most recent investor webcast it seemed as though they were trying to talk future guidance and stock price down, which is an interesting move prior to a secondary public offering. I am sure the speculation will run wild on what they need an additional 4 billion dollars for.
- The main advantages companies have over individual share holders are insider knowledge, the fact that companies lack the irrational emotion that individual traders do, and the ability to control the number of shares outstanding (known as the float). In Trim Tabs Investing Charles Bidderman's macroscopic liquidity theory states it is best to buy stocks when companies are buying and sell when they are selling, but if Google shares drop too far this secondary public offering might be a good opportunity to get cheap shares. They are already down $11 a share in pre market trading.
- to understand the true value of Google I think you need to look at their core mission, their expaning reach, and how they may further expand.
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