Why Did Alphabet Stock Pop Today, Then Drop?
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Alphabet's stock experienced volatility on Monday, initially rising nearly 2% after Canada announced the repeal of a proposed Digital Services Tax, which was seen as beneficial for tech companies like Google. However, the stock later fell by 0.3%, possibly due to concerns over its high valuation and significant capital expenditures on AI projects, which have reduced its free cash flow. Analysts suggest that with a price-to-free cash flow ratio of nearly 29, Alphabet stock may be more of a "sell" than a "buy."
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