What's Going On With Google's Parent Alphabet Stock On Thursday?
Portfolio Pulse from Shivani Kumaresan
Alphabet (NASDAQ:GOOGL) stock is trading lower due to an investigation by the Italian Competition Authority into Google's methods for obtaining user consent for linking data across its services. The probe focuses on potential inadequacies and misleading information in Google's consent requests. This investigation could impact how Google manages user data within the EU.
July 18, 2024 | 6:01 pm
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Alphabet (GOOG) is under investigation by the Italian Competition Authority for its methods of obtaining user consent for linking data across services. This could affect Google's data management practices in the EU.
Similar to GOOGL, the investigation into GOOG's data practices by the Italian Competition Authority could lead to regulatory actions or operational changes, contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Alphabet (GOOGL) stock is trading lower due to an investigation by the Italian Competition Authority into Google's methods for obtaining user consent for linking data across its services. The probe could impact how Google manages user data within the EU.
The investigation by the Italian Competition Authority raises concerns about Google's data practices, which could lead to regulatory actions or changes in how Google operates in the EU. This uncertainty is likely causing the stock to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Vanguard Communication Services ETF (VOX), which includes Alphabet, may be affected by the Italian Competition Authority's investigation into Google's data practices.
VOX, which holds Alphabet, could see a negative impact due to the investigation into Google's data practices by the Italian Competition Authority.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The Communication Services Select Sector SPDR Fund (XLC), which includes Alphabet, may be impacted by the investigation into Google's data practices by the Italian Competition Authority.
As XLC holds a significant position in Alphabet, the investigation into Google's data practices could negatively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50