Six months ago, Google was intriguing mainly as a financial phenomenon. Would its initial public offering come too early? Or too late? Would it succeed, signaling a broader tech revival? Or would it
fail, deepening the gloom about Internet-based businesses? Today, Google is still plenty interesting for financial reasons. In the weeks before its shares first went on sale in August, disparaging
views about its prospects forced it to lower the target price to $85 a share from $135. By last week, its stock had more than doubled, to $190.64, giving it a market capitalization of $52 billion,
more than Ford and General Motors combined.
Read the whole story at The New York Times, October 31, 2004
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