Boston, MA 06/17/2013 (wallstreetpr) – The share prices of Google Inc. (NASDAQ:GOOG) had declined by 0.22 percent to close at $875.04 per share for the end of last trading session on Friday. The shares of the world’s largest search engine services provider had been trading in the range of $874.13 to $884.70 per share during the day. The shares of Google Inc. (NASDAQ:GOOG) had recorded 52 week low price level of $557.09 per share and 52 week high price level of $920.60 per share.
Google Inc. (NASDAQ:GOOG) had recently launched a pilot program, Project Loon under which the company had launched a small network of balloons in the Southern Hemisphere in an attempt to bring reliable internet access to the remote regions of the world. The project had took off this month from New Zealand’s South Island using solar powered, high altitude balloons that ride the wind about 12.5 miles above the ground, which is twice as high as airplanes.
The 30 balloons deployed in New Zealand by the Mountain View, California based Google Inc. (NASDAQ:GOOG) will beam Internet to a small team of pilot testers and would thereby be used to refine the technology and shape the next phase of Project Loon. The project uses algorithms to determine where the balloons should go, then moves them into the winds blowing in the desired direction so as to provide internet access to the users. A special internet antenna is attached to the buildings below so as to provide connection to the balloon network.
Google Inc. (NASDAQ:GOOG) had witnessed the trade of 2.25 million shares on Friday, while the average trading volume for the company is at 2.28 million shares per day. The company presently holds 331.77 million shares outstanding in the market with an institutional ownership of 71 percent of its holdings.
