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Google's IPO Trading Defies Dutch Auction Logic?

Posted by CowboyNeal on from the opening-day-hijinks dept.

TopShelf writes "Today's first-day trading gains for Google may not have just been the result of ambitious day-traders. This story from CBS Marketwatch alleges that Google deliberately set the $85 IPO price well below the true clearing price of their Dutch Auction, and issued fewer shares than expected, perhaps with the intent of limiting supply and assuring themselves a nice runup during the first trading day. In the story's informal survey, winning bidders only received 75% of the shares they should have."

9 of 349 comments (clear)

  1. Google ad by sparcnut · · Score: 4, Funny

    I find it ironic that the Google context-sensitive ad for this article is about making your website a "revenue generator"...

    --
    perl -e 'print $i=pack(c5, (41*2), sqrt(7056), (unpack(c,H)-2), oct(115), 10);'
    1. Re:Google ad by Anonymous Coward · · Score: 1, Funny

      Isn't that ironic... don't you think?

  2. Sign of the devil by SlashdotMeNow · · Score: 5, Funny

    19.8 million shares * $85 = 1.666 billion. Yep that's right: 666. What happened to 'Don't be evil'?

  3. I can't bring up the "Dutch Auction" link by Anonymous+Writer · · Score: 2, Funny

    What is a "Dutch Auction"? Does it have anything to do with dutch oven or going dutch? Or does it refer to the stock market in the Netherlands? Oh nevermind... the link finally came up.

  4. Re:Poor Google by flacco · · Score: 3, Funny

    Survival kit contents check. In them you'll find: one .45 caliber automatic; two boxes of ammunition; four days concentrated emergency rations; one drug issue containing: antibiotics, morphine, vitamin pills, pep pills, sleeping pills, tranquilizer pills; one miniature combination Russian phrase book and bible; one hundred dollars in rubles; one hundred dollars in gold; nine packs of chewing gum; one issue of prophylactics; three lipsticks; three pair a nylon stockings. Shoot, a fellah could have a pretty good weekend in Vegas with all that stuff.

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    pr0n - keeping monitor glass spotless since 1981.
  5. Re:Poor Google by TykeClone · · Score: 3, Funny

    Don't trust Minnesota! Those gophers are greedy.

    --
    A fine is a tax you pay for doing wrong and a tax is a fine you pay for doing all right.
  6. Note to self: by raehl · · Score: 4, Funny

    Invade Canada.

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    paintball
    1. Re:Note to self: by king-manic · · Score: 4, Funny

      Invade Canada.

      You tried twice already. Both time we kicked your ass despite supurior forces. Try it again and we'll burn down your white house again. Our um... super lumber jacks and err.. war mooses will ravage your punny national gaurd.

      --
      "There are more things in heaven and earth, Horatio, than are dreamt of in your philosophy."
  7. Re:company motto by Ralp · · Score: 2, Funny

    so does "don't be evil" still apply as their motto?

    Of course. It's just that now shareholders get to vote on their definition of "evil".