Where Do GOOG & GOOGL Finish Today?
Well, today is the big day for Google shareholders. I just got the new shares dropped into my account. I'm showing a pre-market on GOOG at $565.16 a share. GOOGL looks set to open at $571 at the moment. The most ironic thing I'm seeing so far is that GOOG is reading down 49.79% from yesterday's close. I wonder if it's going to print like that all day? It almost stands to reason that it would, being that it's a new class of shares backed into an existing symbol.
I thought it might be fun to see what the consensus on WSO was about today's close. It seems clear so far that each class of shares is going to open around $570, but where are they going to close? As an owner, I'd love to see the stock cross $600 today, but that might be wishful thinking. It's hard to imagine that it would sell off today, though (reason being: if you were going to sell you probably would have done it yesterday and not put yourself through the rigamarole of a complicated stock split).
Here's the deal: Tell me where you think each class of shares will close today and why, and the monkey closest to the pin gets a Silver Banana and a special shout-out next week on Monday @Mentions. I'll go first: GOOG (the new Class C non-voting shares) closes at $587.50, and GOOGL (the high-octane voting stock) closes at $596, both due to the emotional post-split pop.