Why Alphabet Stock Was Moving Higher Today
The broad stock market was soaring today in response to news of a two-week ceasefire with Iran that includes reopening the Strait of Hormuz.
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) was among the winners, benefiting from a risk-on appetite in response to the detente. Though Alphabet doesn't have direct exposure to Iran or even high oil prices, it is one of the companies most exposed to the health of the global economy because of its size and focus on digital advertising.
As of 11:31 a.m. ET, the stock was up 3.7%, outpacing the Nasdaq Composite's gain of 2.6%.
Source Fool.com
Alphabet Inc. A Stock
€308.80
6.790%
The stock is one of the favorites of our community with 165 Buy predictions and 2 Sell predictions.
As a result the target price of 334 € shows a slightly positive potential of 8.16% compared to the current price of 308.8 € for Alphabet Inc. A.
