Why Alphabet Stock Flopped on Friday
Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) stock didn't finish the trading week on a high note. The Google parent company's two listed shares both sank by nearly 4% in price that day, thanks in no small part to a development on the regulatory front. Those declines were notably more pronounced than the S&P 500 index's 0.2% slip on the day.Alphabet's key business unit Google is on the hook to pay a 4.1 billion euro ($4.7 billion) fine to the European Union (EU), after it ruled in 2018 that the company actively stifled search engine competition with its Android mobile operating system. The tech giant has, not surprisingly, appealed that fine. Image source: Getty Images.Continue reading
Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) stock didn't finish the trading week on a high note. The Google parent company's two listed shares both sank by nearly 4% in price that day, thanks in no small part to a development on the regulatory front. Those declines were notably more pronounced than the S&P 500 index's 0.2% slip on the day.
Alphabet's key business unit Google is on the hook to pay a 4.1 billion euro ($4.7 billion) fine to the European Union (EU), after it ruled in 2018 that the company actively stifled search engine competition with its Android mobile operating system. The tech giant has, not surprisingly, appealed that fine.
Image source: Getty Images.
