Mar 30, 2006 11:15 AM
111
Enter your username and password.
San Francisco, 5:36 AM
Wed Feb 10
56 posts in the last 24 hours
Tsk, tsk, Google got greedy again. Just as it closed on buying 5% of AOL, just after being tapped for the S&P 500, and just after an ample little jump in its stock price, Google announced a $2 billion stock sale. Its reasoning: Once we're on the S&P, let's not make the index funds buy their stocks on the open market as they usually do.
The Motley Fool (which, granted, thinks Google is sunk or soaring depending on the day, the time, and whether Mercury's ascending in Virgo) puts it simply: "Bad move." Because Google has $8 billion liquid right now, hasn't been spending all its cash on acquisitions, and pulled in another $1.6 billion last year.
So it's just another matter of "I want more, I'll take more, and you can't stop me."
Google's Surprising Stock Sale [BusinessWeek]
Google Gets Greedy [Motley Fool]
Google Inc. [Google Finance]
Contact information for this author is not available.
Original material is licensed under a Creative Commons License permitting non-commercial sharing with attribution.
Start a new discussion