Google have just been welcomed to the corporate club of very large baby steps as they enter the S&P 500. And just to prove how valuable the club is Google's shares bounced up 8%.
Now a whole new category of professional investors and index trackers can join the illusive club of roller-coaster Google shareholders. Good luck to them. Of course in the short term the greatest beneficiaries are existing Google shareholders who will enjoy an upward ride over the next week/two (and maybe more) as Google charts up thanks to the S&P thing.
So Google grows up a little more and bumps through yet another corporate milestone at warp speed.
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