Why Alphabet Stock Was Sliding Today

·2 min read
Why Alphabet Stock Was Sliding Today

Shares of Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) were sliding Tuesday as the market interpreted Snap's (NYSE: SNAP) surprise guidance cut as bad news for digital advertising stocks in general. The Google parent makes most of its revenue from advertising, and more than 100% of its profits come from it (because other units like Google Cloud and "Other Bets" lose money), so it's not surprising to see its stock falling in response to this news. As of 12:38 p.m. ET, Alphabet stock was down 6.6%.

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