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Google Faces Wall Street Revolt
Fred Flange wrote to mention a Times of London article, which explains a minor rebellion against GOOG on Wall Street. The company, which has always refused to offer guidance for its stock, is now being peppered with requests to do just that. From the article: "Sergey Brin and Larry Page, Google's founders and biggest shareholders, made plain in their listing prospectus that the company would reject many of the orthodox methods of doing business with Wall Street and instead adopt a mantra to encourage its employees to do good and not 'evil'. Other Wall Street analysts last night were also preparing reports that agreed with RBC, The Times has learnt. 'The time has come for Google to step into line,' one analyst said. 'It is in the interest of all shareholders, including the company's employees and officers, that the share price achieves some stability.'"
Is it evil for the CEO to sell over 100 million dollars worth of stock a couple weeks before they announce this?
Just another example of how the media is always looking out for the little guy, even on wallstreet - Last Tuesday, when Google's CFO George Reyes announced at a news conference that Google's growth rate had topped out and was headed down, Google's stock dropped 60 dollars per share in less than 10 seconds. Have you heard about this?
I didn't think so.
You're nothing; like me.
It's the other way around. Google might need to kiss analyst ass buddy. Two reasons: for the most part, a much of Google stock isn't owned by independent private investors, but by institutional investors like Legg Mason. So in this instance, Google needs to pony up and start talking or the ride might end early.
Also, Google's reticense supports my assertion that the IPO was a a stock run-up. Markets are functions of mob behavior, and Google maximized buzz into a shitload of cash. The pendulum has swung, and Google can't have it both ways. Their money was good enough for you to take and use; accountability to their requirements is only appropriate.
un burrito me trampeó.
Exactly! The shareholders bought what they bought. They were under no false pretenses, and Google doesn't have to do a damn thing to change their practices.
Are you kidding? Clearly you have never traded stocks, nor do you own a red penny in stocks. I find it difficult to believe you would ever say something so absurdly naive otherwise.
Firstly, stock analyst work for stockholders -- They aren't some magical group that just likes to analyze stocks for the fun of it. Their purpose is to give an external evaluation of a company's health to help guide stockholders on whether to buy, up their investment, or sell. It's hard to do that when a company is as secretive as Google is.
If the shareholders don't like it, I'd like to see them sell. I seriously doubt that many of them will actually want to take losses in the hundreds of thousands range and higher, just to make a point to Google.
Another pearl of infinite naivety.
I'm glad you're not a stock broker or analyst.