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Google Announces Nasdaq Float
cycleburner writes "The Financial Times reports that Google will list its shares on the Nasdaq stock market, ending months of speculation over whether the world's most used internet search engine would pick Nasdaq or its larger rival, the New York Stock Exchange. Apparently: 'Winning the Google listing is a big victory for Nasdaq, whose dominance of trading in technology stocks has come under concerted attack from the NYSE. Google's likely stock market value has been estimated by some analysts at more than $40bn, a level that would turn it overnight into one of the 10 most valuable US tech companies.' Reuters/ABC News has more information on the announcement."
Sorry, which of our Rights Online are involved here? Also, Simon, it's customary to append a sentence or two to the end of YRO posts to tell us what conclusion to reach. We're uncomfortable thinking about these things without patronizing explanations from Michael Sims.
What I'm listening to now on Pandora...
erm ... maybe I'm missing the obvious here, but how are SAP and Nokia US companies?
No they won't, because they've structured the stock offering so that the stock purchasers:
1. Get no control at all. The current ownership retains voting control.
2. Get no dividends back. In the prospective they essentially promise no dividends, ever.
So what do you get with your Google stock? The right to try to sell it to some other sucker later on.
That makes it all the worse- because certainly the key descision makers in the company are getting some stock, and thus they will have reason to try to keep the stock price up so that they ARE able to sell it to some other sucker down the road.
Which leads us back to the main problem of a technology company being in the stock market at all- myopia. The three month reporting scheme might make for a nice market trade volume, but it's death for any long term research project.
SJW: a person who perceives an injustice, and while correcting it, commits a greater injustice.