antitrust enforcement

On July 31, Alphabet Inc. (GOOG) declined by 2.32% with a trading volume of 0.36 billion, making it the 14th most liquid stock. This decline followed a ruling by the U.S. 9th Circuit Court of Appeals that upheld a federal court decision requiring Google to change its Android app store policies to allow third-party app stores and alternative payment systems. The court rejected Google's arguments against the ruling, which was initially based on findings of anticompetitive practices. Google plans to appeal the decision, while Epic Games CEO Tim Sweeney called it a "total victory" and plans to launch the Epic Games Store on Android. The court also dismissed Google's defense regarding competition with Apple's app store. Separately, a strategy of acquiring the top 500 stocks by daily trading volume for one day yielded a return of 166.71% from 2022 to the present, significantly outperforming the benchmark return of 29.18%.