07:44 AM EDT, 08/02/2024 (MT Newswires) -- Alphabet (GOOG) reduced its stake in CrowdStrike ( CRWD ) before the worldwide tech outage on July 19, Reuters reported Friday, citing a regulatory filing.

Alphabet cut its stake in the cybersecurity company to 427,895 shares from 855,789 shares as of June 30, according to the report.

The value of CrowdStrike's ( CRWD ) shares has declined by about 35% since the outage, Reuters said, adding that the company was sued by its shareholders on Wednesday.

CrowdStrike ( CRWD ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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