Google (GOOG) rises after speaking out about wireless auction

Filed under: Major movement, Good news, Google (GOOG), Options, Technical Analysis, Technology

Google Inc. (NASDAQ: GOOG) shares are trading higher after the company said in a blog post last night that it bid in the recent government spectrum auction in an effort to open up the airwaves to outside Internet devices. The company also said it planned on bidding in the next wireless spectrum auction in an effort to improve its own wireless business. GOOG is currently developing a mobile phone software platform, and hopes to “make the wireless world look much more like the open platform of the Internet,” according to a company statement. If you think that the stock won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on GOOG.

After hitting a one-year high of $747.24 in November, the stock hit a one-year low of $412.11 in March. GOOG opened this morning at $457.01. So far today the stock has hit a low of $456.20 and a high of $471.99. As of 12:45, GOOG is trading at $470.01, up $14.89 (3.2%). The chart for GOOG looks bearish but improving slightly, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

Continue reading Google (GOOG) rises after speaking out about wireless auction

Permalink | Email this | Comments

Share This

This entry was posted on Saturday, April 5th, 2008 at 1:21 pm and is filed under Employment opportunities. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.