Home > Money > I can’t believe Google is $300/share

I can’t believe Google is $300/share

June 28th, 2005 Leave a comment Go to comments

Brad DeLong weighs in on the idiocy. That share price is so shortable, it’s ridiculous.

Now if only I had some free capital…

Categories: Money
  1. chartoo
    June 28th, 2005 at 15:39 | #1
    Reply | Quote

    Too many people short already, it’s what’s commonly called a Bear Trap.

    Because so many traders are short Google finding broker with shares to loan to a short seller are almost non existant.

    The price has risen to $300 on the backs of the shorts in fact, each price burst causes the shorts to cover driving the price even higher still.

    Vicious game, dangerous for the average investor when there’s so much big money involved.

    Actually the institutional shorts appear to be covering for the summer so they can go on vacation the short interest has dropped to just under 10 million shares.

    What kills the shorts is the mutual funds that have to have GOOG in their portfolio’s, who’ll buy at any price.
    http://finance.yahoo.com/q/mh?s=GOOG

  2. chris
    June 28th, 2005 at 17:43 | #2
    Reply | Quote

    it’s all a matter of time. the second it starts to dip, the whole thing is going to crash.

  1. No trackbacks yet.
You must be logged in to post a comment.