Why Alphabet Stock Pulled Back Today
Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) were moving lower today in response to a lawsuit from the Department of Justice and eight states, which are suing to break up what they see as Alphabet's online advertising monopoly.
As a result, the stock finished the day down 2%.
The Justice Department's lawsuit alleges that Google abuses its power in advertising auctions as a dominant broker and supplier in the digital advertising supply chain, harming both ad tech companies and publishers.
Source Fool.com
