Google June 15th Short Interest Update

Google (NASDAQ:GOOG) reported a drop of 20.8% or 598,526 shares in its short interest. The short figure came in at 0.8% of the total floats. The average daily volume of 1,299,378 shares suggests that the days to cover 2,276,896 short positions, as on June 15,2016, will be 2. On May 31,2016, the short interest was 2,875,422 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Google (NASDAQ:GOOG): The stock opened at $675.17 on Friday but the bulls could not build on the opening and the stock topped out at $689.40 for the day. The stock traded down to $673.45 during the day, due to lack of any buying support eventually closed down at $675.22 with a loss of -3.80% for the day. The stock had closed at $701.87 on the previous day. The total traded volume was 4,449,022 shares.

The company shares have rallied 29.47% from its 1 Year high price. On Feb 2, 2016, the shares registered one year high at $789.87 and the one year low was seen on Jul 7, 2015. The 50-Day Moving Average price is $713.90 and the 200 Day Moving Average price is recorded at $722.85.

Google (NASDAQ:GOOG) has tumbled 2.39% during the past week and has dropped 7.84% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.77%. Google (NASDAQ:GOOG) has underperformed the index by 5.05% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

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.

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