Fears of antitrust fines are pushing investors to the sidelines of Google’s stock, despite the search engine giant’s efforts to improve its search quality.
Some investors have been skeptical of Google’s response to the government’s suit alleging that the company manipulated search results to drive traffic to its shopping and shopping comparison services, Bloomberg reported.
The suit was filed with the U.S. Department of Justice in April 2018. The DOJ alleged that Google manipulated search
Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) shares may be in the process of bottoming out. However, if a lawsuit being contemplated by the Department of Justice against the search engine giant is any indication, an eventual tumble in the share price isn’t outside the realm of possibility.
TheStreet’s Jim Cramer noted Wednesday that if the lawsuit is a “self-inflicted wound” for Google, the stock won’t see any great drop and likely will go higher than the current prices.
Google investors have been downplaying the impact of the Department of Justice’s lawsuit over how the tech giant displays competition on its search results, according to Fox Business Network’s Maria Bartiromo.
The DOJ suit was filed in April against Google, saying it will break up the company because the way the tech giant displays search results is illegal.
Bartiromo cited a number of reports that showed investors being bullish about Google’s prospects.