Google (NASDAQ:GOOG) Invests In Auction.com, Faces New Smart TV Competition

Technology Stocks News 5

Google (NASDAQ:GOOG) moves higher Wednesday as the market digests mixed news for the search giant, first that it took a stake in an online real estate auction firm, but also that its Chromecast stick now faces competition from Roku’s affordable Streaming Stick.

In its first real estate venture, Google Capital will pay $50 million for a minority stake in Auction.com LLC. This online real estate company uses similar eBay-style countdown clocks to auction properties.

Google (NASDAQ:GOOG) now faces competition from Roku’s Streaming Stick in a move toward smarter TVs. The Roku product is designed to help move video from the Web to the TV. Priced at $49 and coming with a WiFi remote control, the Streaming Stick will compete with Google’s $35 Chromecast stick.

Roku is a privately held Saratoga, Calif.-based company.

Google (NASDAQ:GOOG) shares are 0.4% higher at $1,220 per share, trading near all-time high levels. The 52-week price range on shares is $761.26 – $1,228.88.

 

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