Tuesday, January 24, 2006

Google founders sell more stock

Last month, the 32-year-old celebrity co-founders of Google each sold more than $160 million worth of their company's stock.

Interesting that they sold them at all time highs for the stock. Mind you, should the shares reach $600 as some analsyts predict, they could have sold them cheap.

And this takes share sales by both founders to over $1.5bn. They clearly didn't need the money for this latest sale, so people are bound to speculate over whether it bodes badly for Google stock.

We'll know a lot more when Google announces their next set of results. If there is any hint of a slow down in their business then expect a share price slide. And a fairly painful one. After all, Yahoo is down 17% since their recent performance worried investors last week.

Google may be down 7% since last weeks Nasdaq sell-off, but there's still room to fall a bunch more.

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