GOOG Loves the S&P

Or, vice versa? From Reuters: Shares of leading Web search company Google Inc. (GOOG.O: Quote, Profile, Research) jumped 8 percent in after-hours trading after Standard & Poor's said the company's stock listing would be added to the S&P 500 Index on March 31. Actually, now it's up more than…

GoogspOr, vice versa? From Reuters:

Shares of leading Web search company Google Inc. (GOOG.O: Quote, Profile, Research) jumped 8 percent in after-hours trading after Standard & Poor’s said the company’s stock listing would be added to the S&P 500 Index on March 31.

Actually, now it’s up more than 35 bucks. Fickle, fickle, fickle. Of course, when a company makes the S&P, it makes the index buyers, and that drives demand, and demand drives the stock up.

4 thoughts on “GOOG Loves the S&P”

  1. I would just like to note that this does not make Google intrinsically worth anymore than it was before. It just makes it so every person on earth owns a share via an index.

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