Google Added to S&P 500

Today is the sixth anniversary of the market’s top. On March 24, 20000 (also a Friday), the S&P 500 closed at 1527.46. Six years on, we’re still down about 15%.
The folks at S&P are celebrating the bursting of the tech bubble by adding Google (GOOG) to the S&P 500. Burlington Resources (BR) has been voted off the island.
Since Google is about three times larger than BR, index funds need to sell all 499 stocks to make room for Google.
Also, Alcatel (ALA) and Lucent (LU) are in merger talks. The two sucky companies hope to form one large sucky company.
Six years ago, Lucent closed at $48 a share. Today, it’s at $3.
Bed Bath & Beyond (BBBY) is finally starting to move. This stock is a bargain under $40.

Posted by on March 24th, 2006 at 10:13 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.