GOOGL - Why Criteo Stock Dropped Today
Shares of ad-retargeting tech company Criteo (NASDAQ: CRTO) fell 15.9% today after Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google announced plans to phase out support for third-party "cookies" -- packets of data on which advertisers rely to track and analyze users' web activity -- in its Chrome web browser.
In a blog post this afternoon, Google unveiled a new initiative called "Privacy Sandbox" with the goal of developing "a set of open standards to fundamentally enhance privacy on the web." As part of that goal, Google says it wants to phase out support for third-party cookies in Chrome within two years.
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