Last week was quite active for the internet giant Google; the company had to face a few allegations and made a few changes to its Gmail by adding a new app.
WikiLeaks Julian Assange claimed Google Inc. (NASDAQ:GOOG) was working with the U.S government and spying on users globally. He said that Google was backed up by the White House; Julian further said that this relationship was symbiotic and Google in turn is giving generous funds to the White House. Google, which enjoy the major portion of the digital world, denied these allegations and said that the company had to fight off NSA to upset their plans for spying. Google further said in its defense that it has encrypted data on its smartphones in order to provide privacy and security to its users – a step that does not sit well with the FBI and other law agencies that are always in pursuit of any information they can find through Google.
Google also announced that the company will buy Redwood City offices for a whopping sum of $585 million. The transaction includes six buildings; however more details are not being made public because Google claims the property is private.
Google also introduced the new “inbox” app in its Gmail that stores emails into different categories. This move may not be welcomed by advertisers who may find their emails in an unwanted category that nobody likes to open.
Snapshot of Google’s week at the stock market;
Google started its week at the stock market on 20th October, Monday by trading at 520.42. Later on in the day Google rose up to 533.16, but then fell down to 519.14. By the closing hour, Google stood at 532.38.
Google opened up on Tuesday at 537.27. By midday, Google had gained 1 percent and stood at 538.77. This surge was short lived as Google slipped to 530.20 later on. Google stood at 538.03 at the conclusion of the day.
On Wednesday, third day of the week at the stock market, Google Inc. opened up at 541.05 and instantly rose up to 550.76. Share price dropped considerably later on to 540.23, but Google managed to draw it back to 542.69 by the end of the day.
On Thursday, Google started trading at 548.45 and climbed up to 557.40 in a matter of hours. The lowest number Google hit in the day was 545.50, but the stock regained its value to 553.65 at the conclusion of the day.
Last day of the week at the stock market, Friday, Google started at 554.98 and rose up minutely to 555.00. Lowest number of the day was 545.16, but went back up to 548.90 to close its day and week at the stock market.
Overall, Google went up by 28 percent in its stock price; even though its third quarter results fell short of a few estimates, but with new gadgets and devices coming up and some already launched the company may have a better fourth quarter. Google Inc. (NASDAQ:GOOGL) has every reason to expect good sales from its latest Nexus series.
