Alphabet Inc. (NASDAQ: GOOGL) ranks as one of the largest companies in the world, with a market cap over $1.7 trillion. It is in an elite club with the likes of Apple, Microsoft and Amazon, all with market caps over $1 trillion, and a couple over $2 trillion. However, its short interest hardly compares to most of these big names.
For the most recent settlement date, Apple’s short interest came in at 108.94 million, and 48.14 million Microsoft shares were short. The number of shares short on Amazon was much lower at 4.83 million. Again, Alphabet’s short interest fell below this whole group.
Alphabet’s short interest for the June 15 settlement was 2.70 million shares, down from 2.88 million on the prior settlement date. Note that this also compares with the 3.11 million shares short reported in the same period of last year.
In the past 52 weeks, the stock has outperformed the broad markets, with shares up about 70%. Year to date, the stock is up only 40%.
Alphabet has a daily average volume of 1.11 million shares traded, so it would take short sellers just over two days to cover their positions.
24/7 Wall St. recently reported on Alphabet:
Cramer was quick to note that the infrastructure deal was totally unexpected and was a great boost for construction-oriented stocks such as United Rentals, Inc. (NYSE: URI), Caterpillar Inc. (NYSE: CAT), and Vulcan Materials Co. (NYSE: VMC). Of course, Cramer took some time to shout out his favorite FAANG stocks: Facebook, Inc. (NASDAQ: FB), Amazon Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Netflix Inc. (NASDAQ: NFLX), Alphabet Inc. (NASDAQ: GOOGL).
Outside of the usual construction picks and perennial tech names, there were a handful of other companies that moved higher with the market. Cramer suggests that the move in Tesla Inc. (NASDAQ: TSLA) on Thursday could signal that growth investing is back. At the same time, the climb of Darden Restaurants Inc. (NYSE: DRI) demonstrates optimism from the American consumer.
Alphabet stock closed Friday’s session at $2,450.17, in a 52-week range of $1,351.65 to $2,461.91. The consensus price target is $2,750.07.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
