I'm seeing GOOG trades going through at 140 while the ask appears to be about $92 and NASDAQ is saying it's still officially halted. Be careful if you're messing with this stock. At least let it open and settle down for a couple of hours, especially if you're not using a trading system designed for extremely fast executions.
Update: Let me add that the CNBC reporters keep talking about those broken trades and how confusing all of this is... blah, blah, blah. That's a pretty common thing when IPOs, especially popular ones, start trading. That's why you wait for the damn thing to trade for a while. The market makers must just be salivating seeing all those buy orders line up before the opening. They will jack you! I guess I should be shocked that those reporters don't know that, but strangely I'm not. :-)
Here's a 15 minute chart which shows the bad trades around $140:
And a 5-minute chart which shows the day's action after those bad trades were wiped from the books:
I'll post some notes from Briefing.com as I get them:
10:46 MAMA Mamma.com strength being attributed to short-covering as stock gains momentum ahead of Google IPO (6.08 +0.82)
10:48 MAMA Mamma.com follow-up: if stock is running in anticipation of Google, watch for possible sell-off upon GOOG open at approx 11:40 ET (6.11 +0.85) -- Update --
11:39 Internet stocks spike as Goolge prepares to trade: MAMA +21%, LOOK +6.5%, ASKJ +3.4%, YHOO +0.9% spike to highs of day
11:40 GOOG Google IPO offered at $90 after pricing at $85-- Update --
11:45 GOOG now indicated $95 to $96-- Update --
11:54 GOOG about to open.. bid at $98.00
11:55 GOOG - IPO opens for trading at $100.00 (100.00 +15.00)
11:56 Watch for potential fade in Internets unless GOOG can come back to make new session highs: YHOO +0.10, ASKJ +0.43, AMZN -0.54
Amazon.com (AMZN -0.54) has already seen a sharp decline from intraday highs. Others also fading fast. See 10:48 comment.
12:11 Google back flirting with $100.00 area after initially fading to $96.00 area... seeing some bounce in Net names: ASKJ +0.55, AMZN -0.39, YHOO -0.03 (99.63 +15.63) -- Update --
12:15 GOOG Google rallies back to session highs (100.20 +15.20) -- Update --
12:42 GOOG Google moves to fresh session highs aided by trading floor rumor stock will be added to S&P 500 soon (102.38 +17.38) -- Update -- (oh boy! Two days ago Wall St. hated this stock, now they want it in the S&P??? LOL)
I'm showing one lucky buyer paid $140 and change for 500 shares, but it may be a bad print.
You've gotta love people who enter market orders in a situation like this.
It was 150 shares followed by 350 shares at 11:41 and 11:42 ... I'm pretty sure those trades are gonna get broken.
Yeah, they were broken.
Google warns "no opening bounce," then hands a 15 percent profit to all its friendly IPO buyers at the opening of trading.
Oh, brother.
Ironic isn't it? The Wall Street types ended up getting just what they wanted!
In the bad old days it would have issued at $15 and opened at $100. Investment bankers and their cronies must learn to live in an era of reduced expectations. ;-)