Alphabet Shares Plummet as Company Suspends Share Buyback

Alphabet Inc., the parent company of Google, saw its shares decline by 2.72% after announcing that it would suspend its share buyback program. The move comes as the company reports strong quarterly results but faces growing financial pressure.

The suspension of the share buyback was one of several factors contributing to Alphabet's stock price drop. The company also reported negative free cash flow of $5.86 billion and increased long-term debt to $98.2 billion. Despite these challenges, Alphabet did declare a quarterly dividend of $0.22 per share.

The technical breakdown for Alphabet's shares is clear: the stock has been trading below its 20-day ($342.62), 50-day ($348.55), and 200-day ($336.18) moving averages, indicating sustained weak momentum. Momentum indicators remain negative, with both MACD and RSI generating sell signals.