GOOGL stock did a flush candlestick pattern on December 14, 2021. The flush candlestick is characterized by a long lower shadow and often marks we are near the end of a downward move.
Google staff to lose pay if they don’t comply with vaccine rules, CNBC says
On December 14, 2021, CNBC reported that Alphabet’s Google told its employees that they will lose pay and eventually will have their employment terminated if they do not comply with the tech giant’s COVID-19 vaccination policy, CNBC’s Jennifer Elias reports, citing internal documents. A memo sent by leadership said that employees had until December 3 to reveal their vaccination status and upload documentation proving that status, or to apply for a medical or religious exemption, Elias says. Google added that after the December 3 date, it will start contacting workers who hadn’t uploaded their status or were unvaccinated, as well as those whose exemption requests were denied. Source: https://www.cnbc.com/2021/12/14/google-employees-to-lose-pay-if-dont-comply-with-vaccination-policy.html
Canadian National and Google partner to develop digital scheduled railroading
CN (CNI), and Google (GOOG; GOOGL) Cloud announced a seven-year strategic partnership to transform CN’s supply chain as part of digital scheduled railroading, deliver new customer experiences, and modernize its technology infrastructure in the cloud. The companies will collaborate on new services to improve the North American railway system, combining CN’s world-leading expertise in the transportation and logistics industry with Google Cloud’s technology and culture of innovation.
YouTube says it is in talks with Disney over YouTube TV content
On December 13, 2021, Alphabet’s (GOOGL) YouTube said in a blog post that it is in negotiations with Disney (DIS) to continue distributing their content on YouTube TV so users can continue watching everything from ESPN to The Bachelor to Good Morning America. “Our deal expires on Friday, December 17, and we haven’t been able to reach an equitable agreement yet, so we wanted to give you an early heads up so that you can understand your choices,” YouTube said. “Disney is an important partner for us and we’re in active conversations with them and working hard to keep their content on YouTube TV. Our ask to Disney, as with all our partners, is to treat YouTube TV like any other TV provider – by offering us the same rates that services of a similar size pay, across Disney’s channels for as long as we carry them.”
Company leaders, founders selling stock at historic levels, WSJ reports
On December 10, 2021, the WSJ reported that company founders and leaders are selling their stock at record levels amid high market valuations and the looming possibility of changes in the U.S. and state tax laws. 48 of the top executives have gained more than $200M each from stock sales this year, nearly four times the average number from 2016, according to the Journal. These executives include: Google (GOOG;GOOGL) co-founders Larry Page and Sergey Brin; the Walton family, heirs to Walmart (WMT); Meta Platforms (FB;MVRS) CEO Mark Zuckerberg; and cosmetics billionaire Ronald Lauder. Through November, insiders have sold $63.5B in shares, a 50% increase from all of 2020, with the technology sector in the lead with $41B in sales, the Journal reported. The most selling occurred after the Democrats revealed its Build Back better legislative package, which would impose a 5% tax on adjusted gross income above $10M and another 3% on income over $25M. Source: https://www.wsj.com/articles/elon-musk-other-leaders-sell-stock-at-historic-levels-as-market-soars-tax-changes-loom-11639089782?mod=hp_lead_pos1
Barclays says new Google Search app pop-up could signal risk to Apple
On December 9, 2021, Barclays analyst Tim Long says he noticed what he believes may be a first step in a change to Apple’s “lucrative, high margin ‘advertising’ revenues,” specifically the traffic acquisition costs. A new pop-up for the Google (GOOG, GOOGL) Search app on the iPhone “could signal a slight change to the current relationship,” Long tells investors in a research note. Like other Google TAC agreements, the economics to Apple are based on a “healthy” share on the estimated lifetime search ad revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... generated by each phone, specific to each geography, the sum of which could be about $15B annually, Long says. He believes Apple could be facing TAC pressure from Google and keeps an Equal Weight rating on the shares with a $145 price target.
Digital Brands to launch exclusive branded offer on Google Pay App
On December 9, 2021, Digital Brands Group (DBGI) announces that it is launching an exclusive branded offer on the Google Pay App (GOOG, GOOGL); which was just recently relaunched with all new features just this past year. Laura Dowling, Chief Marketing Officer of Digital Brands Group, stated that “we are working with a dedicated Google Pay onboarding team right now to launch our exclusive DSTLD offer within the coming days. The compelling nature of this first initiative, focused on denim, should entice many of the payment app users to visit our site, engage with the product and convert just in time to receive their product before the holiday if they like! We are excited to not only partner with Google on an exclusive offer, but to more importantly have exposure to a new very large addressable market that represents significant spending power in addition to their appreciation of quality denim.”
📺 VIDEO Google execs tell employees they won’t raise pay to match inflation
CNBC reported on December 10, 2021, that Google employees are asking for more pay to match the rise in inflation. The company has announced it won’t comply. CNBC’s TechCheck anchors discuss what it means for internal and external Google employees.
📺 VIDEO Google’s plan for the Metaverse
Wall Street Talks wrote on December 10, 2021, “Hear some good words from Alphabet CEO Sundar Pichai.”
GOOGL Stock Technical Analysis
The short term is neutral, but the long term trend is still positive. Not much to worry about for now. GOOGL is one of the better performing stocks in the Interactive Media & Services industry, it outperforms 94% of 74 stocks in the same industry. GOOGL is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so GOOGL is lagging the market slightly. There is a resistance zone ranging from 2881.62 to 2912.51. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. There is another resistance zone ranging from 2978.53 to 2996.77. This zone is formed by a combination of multiple trend lines in multiple time frames. There is a support zone ranging from 2673.19 to 2730.86. This zone is formed by a combination of multiple trend lines in multiple time frames. Besides having an excellent technical rating, GOOGL also presents a decent setup pattern. Prices have been consolidating lately. Click here to sign up for email alerts on when GOOGL stock is a technical sell.
