Google (GOOG) : The short interest in Google (GOOG) has increased from 1,950,390 to 2,336,931 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 1,325,549 shares are traded daily in the stock and only 2 days are left for the shorts to cover. The short open interest is 0.8% of the total shares in the hands of the public. The shorts in the stock have gone up by 386,541 shares, which is an increase of 19.8% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Google (NASDAQ:GOOG): The stock opened at $770.58 on Wednesday but the bulls could not build on the opening and the stock topped out at $774.50 for the day. The stock traded down to $767.07 during the day, due to lack of any buying support eventually closed down at $769.64 with a loss of -0.32% for the day. The stock had closed at $772.08 on the previous day. The total traded volume was 1,071,990 shares.
In a related news, Page Lawrence, director officer 10% owner (Chief Executive Offic of Alphabet Inc., unloaded 33,332 shares at an average price of $793.48 on August 18, 2016. The total amount of the transaction was worth $26,448,275, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Alphabet Inc (Alphabet) is a collection of Companies. The Companys collection include Calico, Googles health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X. These will be managed separately in Alphabet. On October 2, 2015, Google implemented a holding company reorganization pursuant to the Agreement and Plan of Merger (the Merger Agreement), dated as of October 2, 2015, among Google, Alphabet and Maple Technologies Inc., a Delaware corporation (Merger Sub), which resulted in Alphabet owning all of the outstanding capital stock of Google. Pursuant to the Alphabet Merger, Merger Sub, a direct, wholly owned subsidiary of Alphabet and an indirect, wholly owned subsidiary of Google, merged with and into Google, with Google surviving as a direct, wholly owned subsidiary of Alphabet.