Stock Jumps On Mistaken Report Of Google Ownership

from the idiots-and-their-money... dept

Want to know just how crazy certain (not particularly intelligent) investors are about the Google IPO? When the Dow Jones Newswire (fact checkers anywhere?) accidentally said that microelectronics firm HEI owned warrants to purchase Google shares instead of Heidrick & Struggles, the executive search firm, investors (due diligence be damned!) gobbled up HEI shares boosting the stock 40%. Google can talk all they want about changing the way IPOs are done, but there are a lot of people out there who invest solely on hype and couldn't care less about fundamentals.

1 Comments | Leave a Comment..