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Google Stock Stays High
By Andy Beal
Expert Author
Article Date: 2005-02-14
"Everyone knew that the lock-up period is over and more shares were available to come to the market.
More from Reuters: "In a move to avoid a large sell-off following its mid-August initial public offering, stock sales by Google insiders were restricted during the first six months after the stock's debut.
Some 177 million shares held by insiders were released for trade on Monday, nearly double the number that have become available in the months since Google's IPO.
Google shares came to market at $85, touched a record $216.80 in early February after the company reported better-than-expected earnings and have generally been moving lower since.
"Everyone knew that the lock-up period is over and more shares were available to come to the market. Much of the recent downward action seen in the stock price after early February earnings was attributable to the impending lock-up expiry," said Tim Biggam, chief options strategist at Man Financial.
"I think Google shares are fairly valued and should remain in the approximate trading range of $180 to $205," Biggam said. (Additional reporting by Doris Frankel in Chicago)"
About the Author:
Andy Beal is an internet marketing consultant and considered one of the world's most respected and interactive search engine marketing experts. Andy has worked with many Fortune 1000 companies such as Motorola, CitiFinancial, Lowes, Alaska Air, DeWALT, NBC and Experian.
You can read his internet marketing blog at Marketing Pilgrim and reach him at andy.beal@gmail.com.
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