NVIDIA Stock Price Average Annual Appreciation Rate (for the last 10 years): 83.8%

 

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Alphabet stock hits record high with new FTC chair

Dates         | Stock Price (GOOGL)

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Two Years Ago |     $87.91

One Year Ago  |     $131.06

Today               |     $195.08

(Dec. 2024) Alphabet (GOOGL.O),  led a Big Tech rally on Wednesday, with its stock hitting a record high after U.S. President-elect Donald Trump picked Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency.

Andrew Ferguson

Trump tapped Ferguson on Tuesday to replace Lina Khan, whose term as FTC chair has expired.

The agency became a political flashpoint under Khan, who promoted antitrust enforcement as a check on corporate power. Several Big Tech firms such as Google-parent Alphabet, Microsoft (MSFT.O), and Apple (AAPL.O), heightened regulatory pressure from the FTC during her tenure.

Ferguson was a "known dissenter" under Khan "and many people feel under his leadership the antitrust case against Alphabet will come to an end", said Jay Woods, chief global strategist at Freedom Capital Markets.

Lina Kahn, former Federal Trade Commission Chair

Trump and his team have been broadly critical of Big Tech companies, although some of his most prominent backers were tech executives, and it is unclear how they will approach regulatory and M&A policy for that sector.

Alphabet's shares rose about 5.5% to hit a record high of $195.45. Tesla (TSLA.O), opens new tab jumped 4.6%, also to a record high, extending its rally since the Nov. 5 presidential election on bets the EV-maker will benefit from CEO Elon Musk's close relationship with Trump.

Other tech shares also rallied. Microsoft gained 1.2% and Amazon.com (AMZN.O), and Meta Platforms (META.O), added 2% each.

The latest inflation report raised expectations of an interest-rate cut by the U.S. Federal Reserve later this month, lifting technology stocks.

Shares of Alphabet have gained over 10% in the last two days following announcements from the company about its AI agents and quantum-chip breakthrough.

Google released the second generation of its Gemini artificial intelligence model earlier on Wednesday and teased a lineup of new ways to use AI beyond chatbots, including through a pair of eyeglasses.

It unveiled a new-generation chip on Monday, which it said helped overcome a key challenge in quantum computing.

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Pandora's stock goes BELOW IPO price but keeps signing...

SAN FRANCISCO— Buyer's remorse already may be setting in for some investors in Internet radio station Pandora Media Inc.

After intense demand drove up the price for Pandora's initial public offering of stock, the shares lost nearly a quarter of their value their second day of trading.

Thursday's harsh reversal of fortune left Pandora's stock below its IPO price of $16. The shares fell $4.16, or 24 percent, to close at $13.26.

The downturn indicates the earlier euphoria about Pandora Media may have been misguided. The excitement enabled Pandora Media's IPO to sell for twice as much as an $8 target price set two weeks ago.

The misgivings are bad news for investors who paid as much as $26 on Pandora's first day of trading.

But the circumspection is encouraging for those worried about an investment bubble forming around promising Internet services that have attracted large audiences.

Pandora's IPO

Pandora boasts 94 million users looking for a different kind of radio station. The company, based in Oakland, California, streams music over high-speed Internet connections and relies on computer formulas to tailor individual songs for listeners.

The approach hasn't been profitable yet, one reason some analysts thought Pandora had been overvalued in its IPO. The company has lost a total of $92 million during its 11-year history. The problem: Pandora's main source of revenue, advertising, hasn't been growing fast enough to cover the royalties for playing music.

Pandora's IPO came less than a month after the stock market debut of online professional networking service LinkedIn Corp. evoked memories of the dot-com boom in the late 1990s.

LinkedIn's shares more than doubled on their first day of trading to give the company a market value of $9 billion. The stock has plunged nearly 28 percent since then, although it remains well above LinkedIn's IPO price of $45. LinkedIn shares shed $6.35, or 8.5 percent, Thursday to close at $68.27.