The stock price of Alphabet Inc Class A (the owner of Google) (GOOGL) has fallen by over 2.42% today till the late morning trading session. The stock closed at $1054.09 on Monday.
The California based company is an American multinational conglomerate founded on October 2, 2015, by the two founders of Google, Larry Page and Sergey Brin, with Page serving as CEO and Brin as President. It is the parent company of Google and several other companies previously owned by them. The company is based in Mountain View, California, at Googleplex. The reorganization of Google into Alphabet was completed on October 2, 2015.
Alphabet’s portfolio encompasses several industries, including technology, life sciences, investment capital, and research. Some of its subsidiaries include Google, Calico, GV, Google Capital, Verily, X, and Google Fiber. Some of the subsidiaries of Alphabet have altered their names since leaving Google—Google Ventures becoming GV, Google Life Sciences becoming Verily and Google X becoming just X. Following the restructuring Page became CEO of Alphabet while Sundar Pichai took his position as CEO of Google.
An educational group founded by a conservative talk-show host failed to show that Google engaged in illegal censorship by limiting access to some of the organization’s content through YouTube. The Internet search company, now a unit of Alphabet Inc., and its video-sharing website don’t qualify as “state actors” that need to provide a public forum for speech under the First Amendment, U.S. District Judge Lucy H. Koh ruled. The educational group, Prager University, can amend its lawsuit and file again, the San Francisco-based judge said.
Google and YouTube “are private entities who created their own video-sharing social media website and make decisions about whether and how to regulate content that has been uploaded on that website,” Koh said in her decision Monday. Prager failed to show the companies “have somehow engaged in one of the very few functions that were traditionally exclusively reserved to the state.”
Prager University, founded by radio host Dennis Prager, describes its mission as spreading “what we call ‘Americanism’ through the power of the Internet” in five-minute videos. The group sued in October claiming Google and YouTube were violating free speech rights by using filters to restrict access to right-leaning videos on topics such as the “Arab world,” gun rights and abortion.
More liberal speakers such as Buzzfeed and Bill Maher, whose content includes profanity or graphic material, remain unfiltered on YouTube channels, Prager claimed. Prager representatives didn’t immediately respond to an emailed request for comment on Koh’s ruling.
Mountain View, California-based Google stirred controversy with the firing of engineer James Damore, in August, fueling claims that Silicon Valley suppresses conservative views. Damore had written a memo criticizing the company’s affirmative action policies, and suggested women were biologically less-qualified for technology jobs than men.
Our analysts have given a “HOLD” rating to Google’s stock. Although it shows great potential, however due to the fluctuation, this is not the stock where you want invest big right now.