Google (stock) loses $70 Billion overnight

[Graybeard]

Alphabet had more than $70 billion in market cap wiped out, and it’s blaming YouTube
note :Alphabet is the corporate name for Google now
Key Points

• Alphabet reported a sharp decline in ad revenue growth Monday, sending the stock down at least 7%.
• Alphabet’s CFO said changes to the YouTube algorithm caused lower engagement and ad revenue growth on the site.
• Porat was probably referring to changes YouTube made to curb the spread of fake news and conspiracy theories. It shows YouTube is willing to forego some short-term ad revenue for the long-term health of the company.

^^ Alphabet had more than $70 billion in market cap wiped out, and it's blaming YouTube

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