Google Inc. stocks performed really well in the past week, and a lot of credit goes to the positive reaffirmations Google Inc. (NASDAQ:GOOG) made during the week.
Previously, news of Google’s withdrawal of the Glass technology had shook investors, who feared the company had hit, after a long time, a roadblock in its growth and expansion. However, the Android OS developing company reaffirmed investors this week with the assurance that withdrawing the Glass technology from development stage was in the best interest of the technology itself, as Google planned to re-launch the device with significant improvements.
A major news report that came from Google was a recent deal signed between the company and SpaceX. The deal, which was valued at over $1 billion dollar, would further Google’s plan to spread the internet all over the world with the use of satellites that SpaceX would launch into space. The deal shows the strong financial position Google Inc. currently enjoys in the tech industry, which is evident with its Google X division, the same under which this new project by Google would be launched.
It was also announced during the week that Google would be entering the mobile data service industry by providing cheap mobile data solutions to users of the Google Nexus phone to users in the US, which, according to industry experts, would further Google’s plan to connect all its services and to bring more people onto the internet.
Weekly stock market performance of Google Stocks
As 19th January was an off-day for the NASDAQ stock exchange, the stock for Google Inc. resumed trading on the 20th of January.
The stock opened on 20th January 2015 at the value of 512.77, 2 points above the value it had closed on the 16th of January. Initially the stock improved in value, and reached its highest value of 515.61 in the first half of the day. However, this high point could not be maintained, and the stock dropped to its lowest value of 509.37 in the second half of the day. It slightly improved before trading closed, and the official closing value of the stock for the day was 509.94.
The next day, the stock opened at the value of 510.84, slightly better than the closing value of the previous day. The stock dropped by one point to reach the day’s lowest value at 509.59 initially, however, stock value dramatically improved the rest of the day. The day’s highest point was achieved at the stock value of 521.85, and then slightly dropped to 520.39 as the trading day closed, almost 10 points above the opening value.
22nd January was the best performing day of the week for Google Inc. stocks. Stock opened at 523.43, dropped just a bit to the value of 521.91 in the first few minutes of trading. However, the stock improved dramatically the rest of the day, reaching its highest point at 538.84, and closing at the value of 537.30, over 14 points above the opening value.
The last day of the week again proved a good one for Google Inc. (NASDAQ:GOOGL) stocks. The stock opened at the value of 538.03, reached the point of 535.75 (also the lowest for the day), and then improved a bit to the day’s highest of 545.41 (also the highest value point for the week for Google Inc. stocks) and closed at the value of 541.95 as the trading day came to a close.
