George Mannes
Legg Mason's declaration comes as Google shares continue to skyrocket. Google famously was roughed up a bit in the early August approach to its IPO, as the company was forced to sharply reduce the range at which it expected the stock to trade. But ever since the stock started trading, it has gone practically straight up. At recent levels Google shares are nearly 60% above their IPO pricing level of $85.
That action has only magnified the value question at the company, which is profitable and has shown strong revenue growth but which also faces a cast of hungry, deep-pocketed rivals ranging from Yahoo! (YHOO) to Microsoft (MSFT). Meanwhile, some observers warn that expiring lockups could soon boost the selling pressure. Even so, investors keep snapping up the stock. On Tuesday, Google rose 24 cents to $135.30. Click here to read a letter about this story.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
|
|
DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
|
|
-1.28%
|
-1.43%
|
-1.17%
|
-6.12%
|
Data delayed 20 minutes |
Connect with TheStreet