Google IPO: No longer a sure thing?

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Maybe the investors read Googles prospectus

https://www.ipo.google.com/data/prospectus.html#toc16167_4

In which Goggle clearly states that they expect their growth rate to decline and their operating capitol to decline also. Where then is the room to grow from $100+ opening price.

After reading the prospectus I wonder if Google is foolish to go public at all and their expectation of an issue price up to $130 is more wishful thinking.

Love or hate Microsoft and Yahoo, those are some formidable foes for Google. Google users are initially introduced to the search engine from other friends. Word of mouth is not very good advertising when your main competion advertises and has the power setting the initial homepage or search page of a browser. ISP are increasingly offering branded software ala Earthlink, the user becomes branded also to whatever search function is in that software/browser. My folks are a good example, they loaded their software from their ISP and never changed their destination portal till I mentioned it was possible to set another home page.

I am no investment counselor but IMO Google may be more of pig in a poke rather than the golden egg in the gooses nest. There just does not seem to be much room for growth for the first 2 to 3 years there after. Just today stocks dove 160 points. I think all investors learned some important lessons about IPOs of tech stocks, buy low sell high.

Posted by: Squawkbox   Posted on: 08/05/04 You are currently: a Guest | Members login | Terms of Use

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