Google Continues to Impress – How High Can It Go
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Internet search engine giant Google Inc. reported a 60 per cent rise in first-quarter profit Thursday and a 79 per cent jump in sales as on-line advertising continued to expand at a rapid pace, sending the stock higher in late trading.
The stock closed up $4.50 to $415 per share. This is one of those stocks that I did not buy, as I got suckered into the $200 per share is too much, $300 per share is too much, and now the $400+ per share is too much. But there must be something there for all these people to be bidding the stock higher and higher.
I do not regret not buying it – although it would have been nice. Not my kind of risk though.
2 Comments on this post
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carolina_pirate said:
Google will go as high as people will pay. This stock is going to end badly.
The people who are going to be left holding the bag will be normal everyday americans who could care less about the stock market.The S&P showed they didnt not care about their investors when they added this baby to the 500 index. Now, everyday americans bought this sucker at high inflated prices and they will be left holding the bag.
On the flip side, google has awesome management who are not fools. They have been selling stock into this strength all along. Print the stock as fast as we can boys…before this ship hits the iceberg!
This stock is priced to perfection. When it misses earnings by 1 penny….this stock will get hammered….because its priced to perfection. 2 bad quarters and the blood will really flow.
April 22nd, 2006 at 12:19 pm -
Average Joe said:
“But there must be something there for all these people to be bidding the stock higher and higher.”
Remember the dot com craze. Maybe this stock is worth it. Maybe it isn’t. But the people bidding it up probably don’t have a clue.
I remember thinking that $80 was too high! *chuckle* Oh well. I’ll stick to the dividend payers.
April 23rd, 2006 at 10:26 pm
