Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), the parent company of Google, said on Monday it had sold all of its remaining shares in Robinhood Markets Inc (NASDAQ:HOOD), the online trading app operator.
The tech giant said it had dissolved its stake in Robinhood Markets, according to a report by Reuters. Although Alphabet’s remaining holding amounted to little more than 600,000 – worth around $5M – the divestment followed a major sale in August when it unloaded 90% of its shares in HOOD.
Robinhood shares were trading 0.8% lower to $8.23 during early trading on Monday, but are down 38% since Alphabet’s ...