Google C Soars Amid Court Victory and Trading Surge
AInvestMonday, Sep 23, 2024 4:01 am ET
1min read
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As of last week, Google C (GOOG) increased by 0.86%, marking a nine-day consecutive rise with a total increase of 10.10% over this period. In the past week, the stock rose by 3.96% and has climbed 17.16% year-to-date, with its latest market valuation reaching approximately $2,026.7 billion. The company’s share price on September 20 was $164.64, reflecting a 0.86% increase.

On a significant legal front, the European General Court ruled in favor of Google's parent company, Alphabet, overturning a previous €1.49 billion ($1.66 billion) antitrust fine related to practices in the online search advertising market. This ruling provides relief to the tech giant amidst ongoing regulatory challenges.

Regarding recent trading activity, Google C's trading volume surged on September 20, reaching $7.624 billion, which ranked it 12th in U.S. stock trades for the day. The volume notably increased by 165.39% from the previous day, with 46.36 million shares exchanging hands. For September, the stock has seen mixed results, reflecting a slight decrease of 0.28% but benefiting from a 25.44% gain over the past 52 weeks.

Alphabet Inc., the holding entity of Google and its subsidiaries, was restructured in 2015. Originally founded in 1998 in California and reincorporated in Delaware in 2003, Alphabet operates across diverse sectors including technology, life sciences, capital investment, and research through subsidiaries such as Google, Calico, GV, and Google Fiber. Google remains a major player in internet search, cloud computing, and advertising technologies, providing a wide range of internet-based products and services.

On September 18, trading for Google C reached $2.693 billion, which positioned it 10th on the U.S. stock market that day, marking a 39.27% increase compared to the previous day, with a volume of 16.75 million trades. On that date, the share price increased slightly by 0.33% to $160.81.

Google plans to implement changes to Google Search to help users ascertain whether an image has been modified or created using AI tools, leveraging C2PA certification technology. Although the adoption of C2PA has been slow, Google aims to integrate this standard into its search results, marking a significant test of the initiative.

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