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April 4, 2006
Google Shares are Ba-ack
In case folks hadn't noticed, Google stock is back above $400 for the first time since the end of February. If you bought Google at the mid-March trough, around $340, you just made yourself a very nice 17.6% in 2 weeks.The catalyst? A number of things, most important among which was the company's shares addition to the S&P 500, which was announced on March 23rd.
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I'm shorting on Google, coz google share price at plus $400 is a classic "irrational exuberance". As soon as the effect of being inculded in the S&P500 starts to fade, it'll fall back to where it rightly belongs - some where around $200 range.