Citi Sinks Alphabet

Alphabet Inc GOOG shares are trading lower by $21 at $689.36 in Friday's session. The catalyst for the decline are comments from Citi analyst Mark May. His research indicates that Google ad buys are down.

After a lower open, it could only rally $0.17 to $708.82 before resuming its decline. The ensuing decline took the issue under $700, with $689.16 standing as the current low. That low coincides with a series of multiple lows at the $690 area from late May.