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Google and Red Hat added to Nasdaq
Rob writes "Google Inc and Red Hat Inc are two of the big technology-related stocks to be added to
the Nasdaq-100 in the latest annual reordering of the 100 largest non-financial stocks on
the Nasdaq stock market. Meanwhile, the addition of Raleigh, North Carolina-based Red Hat
reinforces the credentials of the open source Linux operating system on which the company
has built its business. "
One would be stupid not to invest in Google stocks. They've already risen more than 300%, and they're comming up with new services all the time.
[sig]
I get more and more flasbacks from the late '90's these days. Let's hope this time people keep their heads together.
-- Cheers!
This finall happens after Google reaches over $400? Why wasn't this done earlier?
And what willl they do if (or when) Google's price drops down.
Derive Politics
HELLO WORLD
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The subject line really surprised me, as I was sure that those stcoks had been on Nasdaq since they went public. (Pretty much everything is on Nasdaq). I guess I should have known better than to trust a slashdot subject line. The Nasdaq-100 is not the same thing as the Nasdaq.
Sort of reminds me of all the management types here at work who don't know that ISO means anything other than ISO 9000.
All in the same year, no less! Google and Red Hat, Heath Ledger and Jake Gyllenhaal, and the two people who most deserved to die, Terri Schiavo and Stan Williams. Good things really do come in twos!
What about LNUX?
So last we heard, some high-tech honchos had gotten together to press Congress on the issue of the official digital IP (Internet Protocol switchover date. That legislation is now drafted, and sets a December 31, 2008 date by which ISP who're still hogging those analogous IPv4 addresses have got to give it up. One of the issues still unresolved is what to do about the nagging problem of the 100 million American households that are still using IPv4 TVs, who are gonna be understandably disgruntled at the prospect of needing to go in on some new gear just to keep the net a-pumpin'. Lawmakers are (this just in!) split down party lines, with Republicans favoring a subsidy for low-income households and Democrats favoring a subsidy for anyone who buys a set-top box.
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Google's stock is so high right now, I'm guessing there's going to be a split soon. That's usually a good time to buy.
A year of solid revenue growth has seen Red Hat's share price rise to $25 from $16 a year ago.
I would guess the stock will rise higher in the next few weeks, not a bad time to buy RHAT stock.
"Red Hat, Inc.: Stock Rating 9 - Red Hat, Inc., a mid-cap growth company in the technology sector, is expected to significantly outperform the market over the next six months with average risk."
From: http://moneycentral.msn.com/investor/srs/srsmain.
More info here:
http://finance.yahoo.com/q?s=RHAT
He who knows best knows how little he knows. - Thomas Jefferson
Well, I wouldn't say "everything" is on the NASDAQ. NASDAQ is one of the major stock exchanges in the US; the biggest and oldest one is the New York Stock Exchange. A particular stock is usually traded only on one exchange. NASDAQ is heavy on tech stocks, and NYSE is heavy on older, more blue-chip kinds of companies. Most of the companies that affect Slashdot are listed on the NASDAQ, but for most of history it's the NYSE that's been considered the more important index.
The NASDAQ 100 is an index; that is, it's a number designed to tell you how the NASDAQ as a whole is doing. The most famous index is the Dow Jones Industrial Average; when people say "the market is up" they usually mean the Dow.
The Dow is designed to track big old industrial companies like steel, sugar, and railroads. They're "blue chips", meaning they turn in reliable, consistent profits, and are thus supposed to be a good measure of the overall long-term health of the economy. It's heavy on NYSE companies, though NASDAQ companies are gradually creeping their way onto it.
Fallout from their spat with Cogent perhaps?
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Google has been an innovative and interesting company, and Red Hat probably has the best name recognition for Linux in the business. These steps make sense.
The big question with Google is if these laurels that people keep heaping on them will last when Google inevitably loses stock value, for whatever reason. Hopefully, being added to an index like this indicates that some smart people feel that they are here to stay. However, I think most financial people slept through their classes on "Long Term Investment" in business school (if indeed business schools actually offer classes like that anymore).
Google's success = Innovation and they will need to keep innovating if they want to remain relevant. There is always going to be a Microsoft or other competitor who can figure out a way to clone Google's offerings with "just enough" functionality, the right price point, and some evil marketing ploys to create instant competition.
To remain in this game with a high level of quality means new ideas and the willingness to go to places no one thinks can be reached. That will become harder as some of the money pumped into them starts acting like cholesterol: slowing them down and cutting off blood flow to people's brains. Ph.D's may be good at what they do, but they aren't immune to corrosive influences of cash and the lures of prestige. There is going to come a point where Google starts to face the potential for crippling hubris, and at that point, the company will reach it's first real test as a long-term investment. If it can get over its own reputation and keep going, then you have a company worth owning. If not, then they go the way of the 90's, sooner or later.
You don't just add companies to the NASDAQ 100. You also have to drop them. The losers this time:
Career Education Corp.
Dollar Tree Stores Inc.
Intersil Corp.
Invitrogen Corp
Level 3 Communications Inc.
Millennium Pharmaceuticals Inc.
Molex Inc.
Novellus Systems Inc.
QLogic Corp.
Sanmina-SCI Corp.
Synopsys Inc.
Smurfit-Stone Container Corp.
I've never heard of most of these companies. And that's one of the problems with the NASDAQ 100 as an index. Its contents change often, to drop losers and reward winners. Which means that the NASDAQ 100 is constantly rising as long as they can find some stocks going up.
How can you compare today's NASDAQ 100 index with yesterday's if the stock on it change? They weight the numbers to ensure that yesterday's number is the same as today's, but it means that tomorrow's number is on a completely different scale. The NASDAQ will almost certainly go up because you've replaced losers with winners, but that makes it hard to use yesterday's numbers with tomorrow's numbers to help visualize the overall trend.
The NASDAQ 100 index is far flakier than the relatively stable Dow Jones Industrial Average, which is why the NASDAQ 100 is less often reported than the Dow. It's supposed to measure the health of the hot tech stocks in the US, which means it's going to be flaky, but it also makes the number somewhat less useful.
I guess I should call Granma now and ask how much money she's made off of Google stock.
Meanwhile, the addition of Raleigh, North Carolina-based Red Hat reinforces the credentials of the open source Linux operating system on which the company has built its business.
If this is news... I am curious why my story entitled, "Red Hat and M$'s Big Plans For India"" was rejected by Slashdot? Curious, indeed.
Reinforce the credentials of open source software?
Hmm. So if they are removed from the index does this destroy or undermine the credentials of open source software? I think none of these statements are correct.
People say Google can't be overvalued because it's making so much profit, unlike all the dot.coms back in the day.
But people forget that there were plenty of tech companies that WERE making craploads of profits back then, like Sun and Cisco and various telecom manufacturers. Just because they had profits didnt mean they weren't overvalued stocks. Cisco and Sun fell 90% anyway, because they were in a speculative bubble.
Who would have imagined that Don Lapre's late night infomercials telling you the secret to instant wealth was actually true? (placing tiny classified ads in hundreds of newspapers and taking a small profit on each one) Google and Overture apparently took that informercial in mind while developing their business plans. Except isntead of newspapers, they use websites.
Who woulda thunk it?
Google just buy RedHat and be done with it already?
...a company in the process of going under like MSFT...
/. asshat.
Typical
Unless the stock certificates are open source (read: free), I'm not buying. HYPOCRITES!
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I bet Tookie would have liked to have seen this happen.
About half of the members are Bureaucratic and Want them th3re. GNAA on slashdot, [gay-sex-access.com]?
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The managers of Nasdaq want to see 5k again, and so adding GOOG and to a lesser extent RHAT will add to the volatility and maybe even whip people up into a buying frenzy. Engineering the index membership based on a financial agenda is extremely dangerous.