This week was quite testing for Google, as the company faced multiple complaints by competitors and local authorities in some of its major markets in the world.
The first news item depicting Google Inc. in a negative light this week emerged in Russia, when Yandex, a Russian competitor of Google, filed an official complaint against the company stating Google Inc. had exercised behavior of a monopolistic nature, disallowing Yandex from competing fully well in the market. The matter has been filed with the Federal Anti-Monopoly Service in Russia, which, according to one of the organization’s spokesperson, is investigating the matter.
It was also revealed by Renee Niemi, an employee at Google Inc., that a new version of the Chromebook Pixel was in development stage, and will soon be making it into the market. However, she also noted that the product was planned for a limited release to only those willing to test a product still in its developmental stages, which, according to Niemi, the new Chromebook Pixel will initially be. This acted as an indication to analysts and observers of the tech industry that Google Inc. was keeping in line with its pro-innovation policy that the company propagates, gaining better investor faith in the company.
A major achievement by Google Inc. this week was a deal signed with three of the biggest telecom operators in the United States, namely AT&T, Verizon, as well as T-Mobile. The deal allows Google to implant in the Android phones, currently being sold under the aforementioned brands, with a pre-installed version of the Google Wallet, Google’s very own mobile payment service. Having a pre-installed version of Google Wallet on Android phones will seriously boost the use of Google Wallet, according to industry experts, and will bring the mobile payment service at par with the highly successful Apple Pay.
It was also revealed by the end of this week that Google Inc. had appointed a single executive above all its offices in Europe, making the structure of administration in the region more centralized. This has been done, according to experts, to tackle the frequent complaints and lawsuits the company faces in the European segment.
Google’s week at the stock market
Monday, Feb 23 – The stock price opened up at the value of 539, and went up to touch the highest point of the day at 539.30. However, the stock then fell drastically to reach its day’s lowest value at 532, and closed at the value of 535 after improving slightly.
Tuesday, Feb 24 – Google stock price opened at a value much lower than last day’s closing price, standing at 531.54, and also initially fell to reach the day’s lowest point at 531. However, stock price improved the rest of the day, reaching the highest point at 539.54, and closing at 538.65.
Wednesday, Feb 25 – Starting stock price for the day was 538.01, which was also the lowest point of the day. Stock price of Google shares then rose dramatically, reaching the highest point for the day at 549.57, and closing at 547.33.
Thursday, Feb 26 – The stock price opened slightly lower than last day’s closing value at 545.74, and fell very slightly to the day’s lowest point at 545.09. The stock price then shocked the market by increasing almost 15 points to reach the day’s highest at 560.13, and closed at 559.29.
Friday, Feb 27 – Stock price opened at 558.50, and fell slightly to the day’s lowest value at 557.03. However, then the stock price rose again, the second consecutive time this week, to reach the day’s highest point at 569.42, and closed at 562.63 for the week.
Posted in: Technology Investments