Google Goes Public At The Bottom Of The Reduced Range
from the ouch dept
Well, it's finally happened. After reducing the range for their IPO last night, Google finally got the nod from the SEC, and priced tonight at $85 -- the bottom of the reduced range, suggesting just that interest in the IPO was quite weak. Perhaps that's because it was so complicated that many investors couldn't get in on the process. If that's the case, then many investors who couldn't get in on the IPO may try to buy in tomorrow, pushing the stock up. However, if a lot of original investors are just there to flip, there will be downward pressure as well. The shares will begin trading tomorrow, and expect plenty of commentary on which direction the price actually heads.