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Report: Alphabet Inc (GOOGL) Looks to Expand NYC Footprint

GOOGL – The company is reportedly close to a deal for new digs in the Big Apple.


Reports indicate that Alphabet Inc (NASDAQ:GOOGL) is setting its sights on the city that never sleeps. The tech titan is said to be close to a deal that would expand its presence in New York City in a big way. 

Gizmodo shares the scoop.

Hot on the heels of a report that Amazon is planning to split its HQ2 between Arlington, Virginia and New York’s Long Island City, Google is reportedly looking to expand its own presence in New York City. Citing people familiar with the matter, the Wall Street Journal reported Wednesday that the company is nearing a deal for a space in the West Village that would allow space for 12,000 new employees.

Citing sources, WSJ reports that the company is close to buying or leasing a “1.3 million-square-foot office building at St. John’s Terminal in the city’s West Village neighborhood.”

Alphabet Inc Class A shares fell $4.24 (-0.38%) in premarket trading Thursday. Year-to-date, GOOGL has gained 4.80%, versus a 6.38% rise in the benchmark S&P 500 index during the same period.

GOOGL currently has a StockNews.com POWR Rating of B (Buy), and is ranked #5 of 55 stocks in the Internet category.

GOOGL at a Glance

GOOGL Current POWR Rating™
Overall POWR Rating™
GOOGL Current Price $1,054.58 0.63%
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GOOGL Price Reaction

The day of this event (Nov. 8, 2018)
GOOGL Closing Price$1,094.63 1.23%
GOOGL Volume1,685,100
13.36% from avg
Leading up to this event
GOOGL 1-mo return4.12%
After this event
GOOGL 1-day return2.90%
GOOGL 3-day return5.75%

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