Well, after a much anticipated debut on the Nasdaq, Google (Nasdaq:GOOG) stock experienced some volatility today, which was expected under the Dutch auction rules (first, the high priced orders are filled, followed by the other ones, as was described in an entry earlier yesterday).

Surprisingly, the high orders came out at $140, but the stock eventually did find an equilibrium point at around $100, which is still $15 over the original IPO price of $85, corresponding to about an 18% increase on its first day.  In the biggest IPO so far by an Internet company, Google sold 19.6 million shares at $85 each, raising $1.67 billion.  Not bad for Day 1.

Paul Kedrosky has an interesting insight on the Google IPO at his blog, Infectious Greed.  I particularly liked a paragraph that he had on his article on the National Post:

To the extent that such investors are telling the truth about their intentions, they are wrong. Sure, Google's stock is expensive, but so is the stock of Google's peers -- AskJeeves and the like -- and so has been almost every newly-public high-profile company in the last decade. You don't get to be Google's size and prominence, and then somehow tiptoe public.

I have included a chart at the bottom of this article, taken from Yahoo! Finance to show the movement of the stock during the day.