Alphabet (GOOGL) Stock Falls 3% Today, Google Launches COVID-19 Portal

On Mar 23, 2020 at 2:56 pm UTC by Jeff Fawkes · 3 min read
Alphabet (GOOGL) Stock Falls 3% Today, Google Launches COVID-19 Portal
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While Google is working on its COVID-19 website, Alphabet (GOOGL) stock is trading in the red. Now its price is around $1036 per share.

Google is one of the most famous companies in the world. It works virtually, doesn’t consume oil, metals and corporate loans. However, it lost 1/3 of the stock price, driving one from $1,509 diapason to $1,037 during the last 30 days. Alphabet Inc (NASDAQ: GOOGL) stock lost a bit at the beginning of the downwards spiral, with price moving to $1,300-1,400 levels in the first few days.

Simple moving average metric now shows that despite the price were trying to recover several times, it has now been set to regain $1,265 levels, but not above.

Since December 2018, the chart shows that people were buying stocks with as much power as they can. In April 2019, Google experienced a sharp price decrease.

The Alphabet share doesn’t bring in the dividends, but still has a strong P/E index of 21.5. While looking at the weekly charts, we see that the trend remains negative. The share is now above the modified moving average, at the price level of $3,300. A positive picture compared to the previous week’s $1,053.

Investopedia published a report by Richard Suttmeyer. The experienced trader claims that the trading strategy for this stock looks simple. If Alphabet moves below $1,000, investors should buy. Then, if the stock manages to reach $1,300 level, it could be sold with a hefty of profit. However, please note that the piece claims that the author has no positions in this share. His advice must flow in the mind only after strong fact recheck.

At the time of writing, GOOGL stock is down 3.01%. It is trading at $1,036.10.

Google Launches Website Dedicated to COVID-19

As one of the richest companies in the world of the Internet, Google has decided to take this responsibility. And to launch a separate website, which will inform people about the official stance of things, give security tips and more. The new portal will give people a quick brief on the symptoms of coronavirus. The site will feature a ton of links to external websites with recent news.

The app doesn’t show the links to some community boards, however. Google could have attached some links to the places where people can discuss the matter. However, historically, the company doesn’t like to involve in social media and forum platforms too much. Per Google analysts, the forums may be of low quality. Google keeps using best practices so avoids forums.

Google prefers to only engage people via official websites, ‘authoritative’ sources and so on. It has changed the way it represents COVID related information in case you look it up from the U.S. Per Emily Moxley, who works at Google and writes in the recent blog entry:

“This new format organizes the search results page to help people easily navigate information and resources, and it will also make it possible to add more information over time as it becomes available”

The new format will drive traffic to a carousel of Twitter accounts with official remarks. Based on the location of a searching person, Google will also put the local Anti-COVID organizations and health centers into the search results page. Not that such a database is not relevant today, but Google could do more with the billions of dollars they have. Considering that the bulk price of a mask was around 2 dollars at the beginning of March, wouldn’t it be better to give people masks instead of the websites? Such an unexpected move from the ‘Corporation of Evil’ could have fixed the investor’s stance towards the company.

Business, Editor's Choice, Markets, News, Stocks
Jeff Fawkes
Author: Jeff Fawkes

Jeff Fawkes is a seasoned investment professional and a crypto analyst covering the blockchain space. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.

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