Since the SEC`s fraud suit against Goldman Sachs Group, Inc. (Public, NYSE:GS) hit the wires, GS has traded 300 million shares, or 59% of all outstanding shares:
Apr 26, 2010 152.03 30,940,641
Apr 23, 2010 157.40 14,915,918
Apr 22, 2010 159.05 24,832,945
Apr 21, 2010 158.93 30,385,643
Apr 20, 2010 159.98 42,196,524
Apr 19, 2010 163.32 54,299,112
Apr 16, 2010 160.70 102,044,993
My view is this: everybody that wanted to sell on the news have already done so. The downside from here is in my view limited. (read this bullish case for GS)
But some pundits, as Meredith Whitney disagree. Whitney said yesterday after the close that Goldman Sachs Group, Inc. (Public, NYSE:GS) should trade at book value. That criteria values the company at 120 USD per share.
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