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Alphabet Stock Dips After Record Run
9 Dec
Summary
- Alphabet shares dropped 2.6% near record highs after an eight-month winning streak.
- The stock traded ex-dividend for a $0.21 payout, contributing to a minor price dip.
- A previous rally was fueled by Gemini 3 AI and a NATO cloud contract.
Alphabet shares saw a 2.6% decrease in afternoon trading, as investors capitalized on recent gains. This dip occurred while the stock was approaching its all-time high, following an impressive eight-month streak of positive performance.
The decline also coincided with the stock trading ex-dividend for a $0.21 per share payout. While this event typically causes a small downward adjustment, it did not account for the majority of the day's losses. The market's reaction suggests the news is considered significant, even if it doesn't fundamentally alter the company's long-term outlook.
Earlier this month, Alphabet's stock surged on news of its advanced Gemini 3 artificial intelligence model and a substantial cloud infrastructure contract with NATO. Reports highlighted Gemini 3's superior performance against rivals, bolstering investor confidence. Additionally, securing a multi-million dollar deal with the NATO Communication and Information Agency was viewed as a major win for Google Cloud, a segment already demonstrating robust revenue growth.
