Alphabet Inc. (NASDAQ:GOOGL): Alphabet's Dead Cat Bounce?!

 


Alphabet stock sold off on Thursday after the company announced that YouTube TV reached a deal to stream NFL Sunday Ticket for the next seven years. The stock managed to bounce off from its trendline support at ~ $87, but a downside risk continues as long as the stock trades under $100.

Be aware that the stock could be under selling pressure due to the potential threat posed by OpenAI Inc.’s ChatGPT to Google's dominant search model! Morgan Stanley said there is nothing to worry about, though, per Business Insider.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to see the latest update!



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