GOOGLE INVESTORS LOOKS UNMOVED WITH ANTITRUST LAWSUIT FILED AGAINST THE ANDROID GIANT
The situation of things seems totally different from Google investors despite the antitrust suit filed yesterday by the U.S. Department of Justice. This comes as the Android and search giant’s investors appear unconcerned from the legal department.
The latest suit filed by the department is viewed by some as a stunt prior to the U.S. elections, and also, one which aims to change the state of the present technology industry that has seen its wealth and power expand tremendously in recent years. This according to The Wall Street Journal constitute nearly 40 percent of the value of the S&P 500, ahead of a 1999-era 37 percent share.
Prior to this development, the European Union had announced it was going to dig into Google – FitBit acquisition detail, with concerns over competition and privacy before Google gets its hands on FitBit users’ data, it has also been figured out that the European lawmakers are on the verge of drawing up new rules to regulate its so-called ‘gatekeeper’ platforms, a proposal that is expected before the end of this year. However, Europe’s call for the Google – FitBit merger was eventually moved to January 8, 2021, for some reason.
Meanwhile, during yesterday’s trading, it was noted that Google investors’ looks pretty good and unmoved despite the antitrust suit filed against the tech company. Alphabet, during the trading hour, was up 0.91 percent, directly in line with broader trading, While the Nasdaq Composite index was up 0.86 percent. It was reported that Alphabet shares went up in the morning before giving back their gains, which despite those morning lows, eventually recovered to edge ahead of the market.
And as Google’s parent company – Alphabet continues to face multiple antitrust concerns, it’s anticipated that investor’s attitudes could shift considering Google’s antitrust liabilities in the future. While the latest antitrust suit from the Department of Justice is rather the only legal issue the Android giant is currently faced with.
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