GOOG Weathers The First Lockup Release
Despite a lot of worrying, Google's stock went up the first day more shares were made available as lockups were released. The presence of 4.7 million new shares did not faze the market, as GOOG went up 1.26 to close at 101.51. There are four more lockup releases to come, as Forbes reports, with 39.1 million more coming on November 16. Google seems ridiculously stable for such a publicized stock, with typical volume barely more than a third of what Yahoo pulls. Stability is very good, even if it is boring, and indicates investors trust Google, and are in it for the long haul.

- posted by Nathan Weinberg @ 9/03/2004 01:10:00 AM