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This is the first level-headed thing I’ve

posted by Jason Kottke   Aug 15, 2004

This is the first level-headed thing I’ve read about the Google IPO in weeks. “The success of a traditional IPO is often counted by the size of the pop but that is ridiculous. A pop means the firm left money on the table — money which was transferred to a handful of insiders who were allocated stock at the low IPO price.”

Reader comments

Nate BalditchAug 15, 2004 at 9:33PM

That’s absolutely right. That it’s an auction means, by definition, that it will be priced correctly. Of course, it may be priced differently if the auction were more accessable to individual investors, etc., but the idea that if it doesn’t rise by 15, 20, 30%, that there’s a problem is ludicrious.

This thread is closed to new comments. Thanks to everyone who responded.