GOOGL entered an accelerated downtrend after 
SNAP’s earnings. The social media companies are struggling to attract advertisers as 
AAPL changed its policy in July. GOOGL might be a huge beneficiary in the new post-Covid economy, as businesses reopened and had to advertise. If social media stocks are losing market share of the ad business, the logic is that the respective money moved to other sources such as Google Ads. We are long $2900 call spreads for next week. Earnings are on Tuesday after the closing bell. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.