![]() ![]() The tech-heavy Nasdaq index is down 31.83% over the same period. Towards the end of October, GOOGL stock met a YTD low of $91.88.Īs of 28 October 2022, GOOGL was trading at $92.22, down over 36% so far in 2022. However, the stock would soon resume its downtrend. On 21 September 2022 it dropped below $100 for the first time since February 2021. This uptrend would continue for the next few weeks, with GOOGL seeing a three-month high of $122.30 on 15 August 2022. Though the earnings missed estimates, they were better than many had feared and prompted a rebound in the stock price, which jumped 7.6% the day the results were reported. On 27 July 2022, the tech giant released its financial results for Q2 2022. However, as macroeconomic headwinds hit tech companies, the stock began a downtrend that saw it close April at $114.11. ![]() GOOGL opened 2022 at $145.05 and remained relatively steady for the first quarter. Although the price dipped slightly in the following days, it would remain around the $140 mark until the end of the year. Growth continued into 2021, as the company reached an all-time high of $150.97 on 19 November. GOOGL opened 2020 at $67.42 on 2 January 2020 and would close at $86.81 on 31 December, a 28% rise. The Covid-19 pandemic, and subsequent global lockdowns that saw many people work remotely, led to a steep upward trend in the Google stock price. On 2 October 2015, both classes of Google shares began trading on Nasdaq as GOOGL and GOOG fully converted into the same number of shares with the same rights, making Google a wholly owned subsidiary of Alphabet.Īlphabet remains the holding company for more than 160 subsidiary companies, the largest being Google. The new name was chosen to reflect the sentiment of ‘alpha-bet’ (Alpha implies investment return over benchmark). Page mentioned the need to make the company cleaner and more accountable through a new publicly traded entity. On 10 August 2015, Larry Page, one of Google’s co-founders, published the blog post G is for Google, in which he announced the restructuring of one of the world’s biggest companies. ![]() In this article, we take a look at Alphabet’s financial fundamentals, the latest news surrounding the company, and the Google stock forecast for the short and long term. We are focused on both investing responsibly for the long term and being responsive to the economic environment.” Product announcements we’ve made in just the past month alone have shown that very clearly, including significant improvements to both Search and Cloud, powered by AI, and new ways to monetise YouTube Shorts. In the most recent Q3 announcement, he said: “We’re sharpening our focus on a clear set of product and business priorities. US30 US Wall Street 30 (USA 30, Dow Jones)īack in July this year, Alphabet completed a 20-for-1 stock split in a bid to make its shares more accessible to retail investors, revive demand for its stock and possibly vie for a spot in the benchmark Dow Jones Industrial Average Index ( US30) – a collection of 30 major blue-chip shares traded on Wall Street.Īlphabet reported earnings for the third quarter of the financial year on 25 October 2022, with profits slipping amid what CEO Sundar Pichai called has called “economic headwinds”. ![]()
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