Alphabet's Lock-up Period Expires August 2 After $10.4B Stock Offering

On August 2, Alphabet Inc.'s 60-day lock-up period expires following a $10.4 billion stock offering completed in June, when the company issued 29.3 million shares at $355.20 per share.

Since the offering, Alphabet stock has declined 10%, underperforming the S&P 500 Information & Communication Services Index, which fell 9% over the same period, and the broader S&P 500 Index, down 1.9%.