Another antitrust probe?
Alphabet’s (GOOG) Google has been in hot water with antitrust regulators across the globe in the last few years.
According to the Wall Street Journal, the Department of Justice is getting ready to launch a new antitrust probe on the search-engine giant and possibly the entire tech industry. The Wall Street Journal pointed out that Google’s rivals feel that the new features the company launched in recent years enhanced its dominance even more.
Google stock has struggled
Internet stocks saw a rout on June 3. Alphabet stock fell 6.1%, while Facebook stock fell 7.5%. Google stock has fallen nearly 20% in a little over one month.
Google has seen its revenue growth slow down over the past few quarters, while its costs have increased. More competition from Amazon had a negative impact on the company’s growth.
Investors have also been concerned about the looming fear of more regulations in the sector, which weighed the stock down. Google has fallen nearly 10% in the past 12 months.