Google's Rollercoaster: Stock Slips Amid Insider Sales and AI Triumphs
1min read As of last week, Google A (GOOGL) experienced a dip of 1.76%, marking a three-day losing streak with a cumulative drop of 5.03% over this period. In the last week, the stock fell by 3.29%, yet it has surged by 23.84% since the beginning of the year, with its latest market capitalization standing at $2,114.50 billion.
On November 15, 2024, Google A recorded a trading volume of $5.606 billion, ranking 11th among U.S. stocks for the day. This marked a 2.86% increase in transaction volume compared to the previous day, with a total of 32,504,600 shares traded. The stock closed at $172.49, declining by 1.76%, and has seen a 3.29% decrease over the past five trading days. Despite the recent downturn, Google A recorded a monthly increase of 0.81% for November and has appreciated 23.48% year-to-date, with a 52-week increase of 27.48%.
Founded in 1998 in California, Google later restructured to establish Alphabet Inc. in 2015, serving as the parent holding company for Google and its subsidiaries. Alphabet spans various sectors, including technology, life sciences, capital investment, and research, encompassing subsidiaries such as Google, Calico, GV, Google Capital, and Google Fiber. Google focuses on internet search, cloud computing, and advertising technology, offering a wide range of internet-based products and services.
On November 12, 2024, Google A disclosed multiple insider transactions. Director John L. Hennessy sold 522 shares, amid several other transactions on the same day. Notably, company executives, including Sundar Pichai, have also engaged in sizable share sales in early November.
Financial data reveals that until September 30, 2024, Google A reported a total revenue of $253.549 billion, reflecting a 14.68% year-over-year increase. The net income attributable to shareholders grew significantly by 38.55%, totaling $73.582 billion.
Recently, Google's AI model, AlphaFold 3, was officially open-sourced, receiving considerable acknowledgment, as indicated by a 2.4k star rating. This development underscores the company's ongoing commitment to advancing technology through open collaboration.