Hey guys! For all our readers out there who might be winding down their week doing inane things like googling Google, we thought we’d contribute to that this #FeatureFriday with an update on Alphabet Inc, Google’s parent company.
Alphabet Stock Price Update Today (GOOGL): (Released: 30/06/2016)
Brexit’s impact on Google seemed to be miniscule in the short run as Alphabet’s class A and C shares (GOOGL) have been on the rise. Thursday’s closing price was at $695.19, up 0.57% or $3.93 from the previous day’s close. To put this week’s price movements into perspective, GOOGL is currently trading above where it was one-year ago by 28.44%. According to @MoneyMorning, the 52-week high for Alphabet stock is $810.35, which was reached in February, and the 52-week low is $539.54, reached June of 2015.
Alphabet’s Stock Multiple Must Reflect Brexit Uncertainty, Says Axiom: (Released: 29/06/2016)
A statement by @vicanthony from Axiom Capital stated the risks of currency translation in addition to economic volatility in the U.K and Europe. He mentioned the potential for longer-term macroeconomic disruption from Brexit on digital ad spend, which eMarketer estimates at $35B in Western Europe, or 20% of total global digital ad spending. Potential investors might do well to pay close attention to world events since the long term implications of Brexit for Google are not immediately transparent.
Will Alphabet (GOOGL) Stock Be affected by Possible EU Fine?: (Released: 29/06/16)
The rise in Alphabet’s shares comes as a welcome surprise to their shareholders after Reuters claimed that the pervasive tech company could face a third antitrust fine in the European Union. @Alpgomez from TheStreet article states that the potential charge is related to the revenue generated from AdWords. If you don’t know, AdWords is Google’s advertisement placement service that allegedly has unfair clauses and restrictions for advertisers. As Google’s profitability is primarily contingent on the success of its advertising services, it might be prudent to follow up on the regulatory issues. If the European Commision decides to pursue the fine, Google could face a frightening $7.4 billion fine for each case. Even with this threat lingering over Alphabet, analysts continue to rate the stock with as a “Buy”. This is largely due to the company’s compelling growth in net income, gross revenue growth, and the overall solid financial and stock position.
Alphabet Inc’s (NASDAQ:GOOGL) Google Sidewalk Labs To Transform Public Parking and Transportation: (Released: 29/06/16) Google’s offline projects have also been taking off. Google, ever forward looking, is planning to infiltrate another part of our lives by changing the way public parking and transportation works in American cities. Sidewalk Labs, a subsidiary of Alphabet Inc, plans to take its first moves by subsidizing travel for low-income workers in the form of ride-sharing services similar to uber. Columbus, Ohio, will be the company’s first test site for its new urban technologies, according to The Guardian.
The city of Columbus’ existing infrastructure is conducive to Google’s self-driving car project. Google certainly seems to be making headways in terms of innovative technologies by investing $76 million on a smart traffic system that will eventually help driverless cars make their debut.
(Friendly looking robot car? Guess I’ll hop right in) Credits: Google.com
So keep a watchful eye out for Google stock movements by setting your levels in the Call Levels app.