Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL) surged Wednesday morning, notching its biggest non-earnings-related gap higher in nearly two decades.
Shares opened at $226.43, marking the company’s most significant move of this kind since March 24, 2006, when Alphabet was first added to the S&P 500 (SP500).
The stock has now jumped 8.1% after a major development in Google’s long-running antitrust battle. U.S. District Judge Amit Mehta ruled that while Google must expand access to search data to bolster competition, the company will not be forced to divest its Chrome browser.
The decision spares Google from losing control of its dominant browser, which holds the largest global market share, while still imposing measures aimed at curbing its market power.
The outcome is being closely watched on Wall Street and in Silicon Valley, as regulators worldwide tighten scrutiny of Big Tech. For investors, the ruling is seen as a partial win for Alphabet, helping drive the outsized rally and reinforcing optimism around the company’s competitive standing.
Alphabet’s rise on Wednesday is not limited to itself either, see below 10 ETFs that are on the radar as they are the 10 funds with the largest portfolio allocation towards GOOG.
Largest ETF holdings of Alphabet: (NYSEARCA:GXPC), (BATS:GOOW), (NYSEARCA:FCOM), (NYSEARCA:IXP), (NYSEARCA:RVER), (NYSEARCA:VOX), (NYSEARCA:QQQU), (NYSEARCA:XLC), (GGL), and (NYSEARCA:SEMG).