HubSpot Inc (NYSE:HUBS) shares turned sharply lower in afternoon trading Wednesday following reports that Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) has shelved interest in acquiring the cloud-based customer platform company.
What Happened: According to a Bloomberg report citing people with knowledge of the matter, Google parent Alphabet has ditched its efforts to acquire HubSpot after the two companies failed to reach detailed discussions on a potential deal.
HubSpot shares fell as much as 19% in afternoon trading on the report before bouncing back a bit. The stock was down ...