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Google Announces Secondary
posted by MR WAVETHEORY at 3/29/2006 08:49:00 PM
I give Eric Schmidt great credit for seizing the moment to do a $2 billion secondary on the heels of the S&P 500 addition. At least, Eric knows that he should take advantage of the fact that his stock is richly valued to do a secondary while there is robust demand. Google closed at 394.98, up +17.78 (4.71%) and then proceeded to drop -12.07 (-3.06) in after hours. What a yoyo. This is the fallacy that is Google. Now if somebody can tell me how they chose to the number 5.3 million shares.
Mr Wave Theory