Two Ways: Google Goes Off the Air
Strengthen your portfolio in good times and bad.
Yesterday Google (GOOG) ended its 3-year foray into the radio advertising business. The reason? Google Audio Ads failed to live up to expectations.
According to the New York Times, it's the second time in 2 months the company axed a project outside of its online advertising business, leading some to speculate that its model may be more limited than people thought.
But all is not lost. A Google executive said the company learned many lessons from its failed radio venture, and will apply much of the technology to its ongoing interests.
About 40 people are expected to be laid off as a consequence, but Google said it will do its best to find jobs for the workers.
From the Bull Pen: Professor David Waggoner mentioned yesterday that $352 could act as support. That level held in Thursday's intraday selloff. Those bullish can still place a sell stop below that level with the $381-$384 target in mind.
From the Bear Cave: Bears can look to play the downside in the Chinese version of Google, Baidu (BIDU). A buy stop can be set above $140 resistance. But note earnings risk next week.
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