Why Alphabet Stock Tumbled on Thursday
A report from a top news outlet put a damper on Google parent 's (NASDAQ: GOOG)(NASDAQ: GOOGL) stock on the second-to-last trading day of the week. Both of the company's listed stocks took a slight dive as a result, declining by nearly 2%. That was a steeper fall than the S 500's 0.6% slide.
That morning, The Washington Post reported that the government's Consumer Financial Protection Bureau (CFPB) is preparing the extraordinary step of directly placing core Alphabet business unit Google under federal supervision.
Citing two unidentified "people familiar with the discussions," the newspaper added that such a move would subject Google to measures such as regular inspections and close oversight -- similar to the situation with the banking sector.
Source Fool.com
Alphabet Inc. C Stock
The stock is one of the favorites of our community with 37 Buy predictions and 4 Sell predictions.
With a target price of 194 € there is a positive potential of 28.96% for Alphabet Inc. C compared to the current price of 150.44 €.
