Google's Secret Spinoff, Aalyria, Revealed on Monday

The project has received an $8.7 million government defense project

Digital Content Manager
Sep 12, 2022 at 9:26 AM
facebook twitter linkedin


Alphabet Inc's (NASDAQ:GOOGL) Google just revealed a secret project the company has been working on called Aalyria. The spinout software will "radically" improve cellular connectivity, as well as Wi-Fi for travelers, and satellite communication, and will be funded by an $8.7 million government defense contract. While few details have been released about the software so far, Aalyria is promised to be a series of "hyper fast, ultra-secure, and highly complex communications networks."

The tech giant's stock is little changed this morning, last seen up 0.05% at $110.70. The equity has seen some rocky trading during the past couple months, with a recent post-earnings rally losing momentum at the 140-day moving average. The stock found its footing at a familiar floor at the $150 level, however, and now looks like it's back on its way up the charts. GOOGL has a ways to go, though, if it wants to cut into its 23.6% year-to-date deficit. 

Analysts remain incredibly bullish. Of the 30 in coverage, 29 call the stock a "buy" or better. Plus, the 12-month consensus price target of $143.47 is a 29.5% premium to Friday's close. 

Options traders have also taken an optimistic stance. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity sports a 50-day put/call volume ratio of 1.70, which sits higher than 69% of readings from the past year. 

Similarly, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.80 stands in the relatively low 29th percentile of its 12-month range. In other words, short-term options traders have a clear preference for calls right now. 

 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1