Shares of Alphabet Inc. (NASDAQ: GOOGL) have traded down to 83% of their 52-week high today. They are not in an outright panic or bear market but have significantly underperformed their peers in the rest of the space, especially within the Magnificent Seven stocks group. This could be the case for many reasons, though one specific reason is directly tied to the company's news cycle.
Alphabet hasn’t been releasing much news related to artificial intelligence lately, nor equipment or services, but rather with regard to its autonomous taxi service called Waymo. Now, Waymo is absolutely making a splash in certain cities within the state of California, but the autonomous taxi name itself might be the sole reason why the markets have failed to react positively yet, giving investors a chance to exploit this fact.
