Alphabet Inc., the parent company of Google, sold a big part of its investment in Robinhood Markets. This happened recently. Alphabet sold about 90% of the Robinhood shares it owned. The company got money from this sale. Alphabet sold these shares over the last three days. The total value was roughly $2.2 billion. This information comes from official paperwork filed with the government.
(Google’s parent company Alphabet sells part of Robinhood shares to cash out)
Alphabet originally got these Robinhood shares in 2020. That was part of a business deal. Robinhood is a company known for its app used for trading stocks. Alphabet decided to sell most of its stake now. They did not say exactly why they sold the shares. But Robinhood’s stock price has been doing well lately. It went up a lot this year. The price rose over 60% since January. Selling now let Alphabet get money from that increase.
The sale happened through Alphabet’s investment division, called CapitalG. CapitalG focuses on putting money into other companies. They still own a small piece of Robinhood after this sale. But it is much smaller now. Alphabet confirmed the sale details. They pointed to the official filing. Robinhood has not commented on the share sale by Alphabet.
(Google’s parent company Alphabet sells part of Robinhood shares to cash out)
This move means Alphabet has a lot less money tied up in Robinhood. The company can use the money from the sale for other things. Alphabet invests in many different areas. These include artificial intelligence, cloud computing, and other new technologies. Selling shares is a normal thing for big investors to do. They do it when they want to get cash. The market handled the news calmly. Robinhood’s stock price moved only a little after people learned about the sale. Alphabet’s own stock price also saw little change. Robinhood shares closed at a certain price recently. Alphabet shares closed at another price.
