Google's bookbuilding span is in triple digits: $108 to $135. Based on its current share count, that's a valuation range of $29 billion to $36 billion. WOW!

A company with a $100-plus stock price is unusual in technology. In fact, it has become much more common to see tech stocks at lower prices.

In fact, a triple-digit stock usually has a dividend payment attached. Perhaps Google may go against conventional wisdom and declare a dividend?

In an IPO, the float is usually small. This means it is easier for investors to push the stock up or down. With the expected large valuation of Google, the float is relatively small: 24.6 million shares. Combine this with the emerging power of hedge funds and their obsession with short-term trading opportunities, and a stock like Google is likely to be quite volatile.

Eventually, the float for Google will expand, but this could take a year or so.

In the meantime, unless you have a strong stomach and a willingness to speculate, Google is probably not your stock.

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