Alphabet Falls After Downgrade

Alphabet Inc GOOG shares are trading lower by $4.00 at $835.05 in Tuesday's session.

The catalyst for the decline may be the downgrade from BMO, which lowered the stock from Outperform to Market Perform and lowered price target issue from $1,005 to $880.

After a lower open, Alphabet's stock immediately found support just under Monday's low ($829.22) at $820.04 and began to rebound. So far, the ensuing rebound has yet to reach Monday's closing price of $838.55.

The issue still remains quite some distance from its all-time high that was made March 21 ($853.50) and all-time closing high that was made March 17 at $852.12.