Just another $93.17B in market capitalization and Standard & Poor's would have hit up the correct internet stock for adding into its venerable index. Or maybe Standard & Poor's forgot to check the dictionary for the spelling of G-O-O-G-L-E when it wrote A-M-A-Z-O-N into its cheat sheets. Or maybe, just maybe, one dealer in information and knowledge is just as good as another in this digital age. Could someone just send to me Google's phone number, so I can call them in with the "lifeline" and just tell them the answer?!? Add GOOG to the S&P 500 Index already!
I guess things could be worse. S&P could have found another housing stock to add to their growing collection. There are many steel stocks that are looking good again too. Well, at least we have a possible explanation for why AMZN recovered so stubbornly well from its latest uglyearnings report. We may also have an explanation for why GOOG suddenly surged several points into the close - someone (or some people) must have figured that the S&P was finally ready to get with the times. Sorry, folks. Amazon came public more than eight years ago, and the S&P is just now getting around to adding it to the index. As you watch yet another stock pop and fade from this post-index-addition news, start your clocks ticking for GOOG's turn. In one week, the stock has already gone from looking toppy to looking like a launching pad again. Let's see...in seven years, GOOG will probably be at a trillion dollars in market cap and worth almost $4000 a share. Perhaps THEN the S&P will notice?
As always, be careful out there!
© DrDuru, 2005