Yahoo must have thought Google's rapid stock rise was too good a thing to pass up as they sold 2.3 million shares of stock yesterday, according to CBS Marketwatch. Priced at $82.62 per share, the sale of IPO granted stock netted a hefty $191 million.
Google closed slighty down on Friday, ending trading at $106.15.
2. ...is never a bad idea (IMO). I was with a hi-tech flier and took money off the table every quarter as the stock was flying up. When it adjusted (big time), I had already racked up some nice profits, as opposed to those who held everything and watched their holdings get revalued by over half.
Posted at 4:40AM on Dec 19th 2005 by Viagara Guy
3. When Google announced it's IPO price the first time, most analysts said it was too high. Google lowered the price, people bought, shares went up. Now they're approaching the point where analysts said they were too high. Google's business model hasn't changed in the past couple of weeks. If 110 was too high then, it's too high now. Locking in some profit is the absolute right thing to do.
Posted at 4:40AM on Dec 19th 2005 by Stock market blogger
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1. Yahoo has shareholders to answer to and the Yahoo board of directors feels that they have done the right thing by selling a portion of their Google stock. Yahoo Inc. obviously put considerable thought into this decision to sell the Google shares and the Yahoo board believes this is the right move and has no time for personal emotions or feelings for their search engine cohorts/management friends at Google, as all publically traded companies must make decisions in the best interests of shareholders and employees. Yahoo sold 2.3 million shares of Google stock possibly to offset legal fees from the recent litigation with Google, and Yahoo still remains a major Google shareholder as they retain ownership and still hold 1.48 million Class A GOOG shares.
Posted at 4:40AM on Dec 19th 2005 by Jack Roberts