From the abc.xyz source code: Sergey and I are seriously in the business of starting new things. Alphabet will also include our X lab, which incubates new efforts like Wing, our drone delivery effort http://www.hooli.xyz/" target="_blank" class="hidden-link">.
I wondered if the reorg would have any impact on the stock price. Given this joke, now I really wonder. Are we sure it isn't April 1st? Are we sure this press release isn't a hoax? This is so wild I'm having trouble believing any of it.
That would be no joke if that was a reason to do it.