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GOOGL Stock Up 1% in Pre-market, Google Accelerating Partial Reopening of Offices

UTC by Steve Muchoki · 3 min read
GOOGL Stock Up 1% in Pre-market, Google Accelerating Partial Reopening of Offices
Photo: Depositphotos

Google has seen its business model thrive in the past year despite the ongoing coronavirus crisis.

Alphabet Inc (NASDAQ: GOOGL) stock has jumped approximately 1% during Thursday’s premarket to trade around $2,083.60 at the time of reporting according to MarketWatch. Alphabet’s subsidiary Google LLC, which is a major contributor to its stock, has set out new remote working guidelines that will see the majority of its employees back to office working conditions.

According to an internal memo seen by CNBC, if employees want to work remotely after Sept. 1, for more than 14 days per year, they’ll have to formally apply for it. Notably, employees can apply for a remote working system for up to 12 months depending on the underlying conditions.

“It’s now been a year since many of us have been working from home, and the thought of returning to the office might inspire different emotions,” wrote Fiona Cicconi, Google’s new head of people operations, in a company-wide email on Wednesday.

GOOGL Stock and Google Working Condition

Google as a technology company under Alphabet has seen its business model thrive in the past year despite the ongoing coronavirus crisis. The company has seen most of its services including YouTube and cloud computing increase in demand over the past year.

As a result, Google opted to have most of its employees work remotely to meet the huge demand. Google facilitated its remote working through its cloud computing technology. However, a plan has been laid out to return the employees to office shifts.

“The offices won’t look exactly the way you remember them, but our amazing REWS teams are doing their best to make them comfortable, including providing meals, snacks and amenities where possible,” Cicconi said. “We will even be welcoming our Dooglers back.”

The company has notably warned its employees to stay vigilant to avoid spreading the coronavirus once in offices. As a precautionary measure, Google has advised its employees to take a coronavirus vaccine jab although not mandatory.

As the coronavirus vaccine rollout continues around the world, data from Johns Hopkins indicates most of the states have vaccinated a double-digit percentage of the population. Coronavirus updates by worldometers.info shows the United States has been leading with the reported cases, whereby it has reported over 31 million cases so far.

Google and its management are monitoring the situation on the ground to advise its office reopening strategy. The company seeks to have its employees onsite to improve work efficiency.

Alphabet stock rallied over 87% last year and has now jumped approximately 18% in the past three months. A survey conducted by MarketWatch indicates Alphabet (GOOGL) stock received an average of Buy rating from 46 ratings.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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