The stock of Google’s parent company ended Friday’s trading session relatively unchanged, as investors digested news of a major data leak and broader market developments.
Alphabet Inc. (GOOG)’s shares closed at $213.53, up slightly from the day’s prior end price, despite Google‘s global security alert advising its 2.5 billion Gmail users to update their information following a data breach involving one of its Salesforce databases.
The company immediately issued a network-wide alert telling users to change their password immediately.
Despite all that, investors in Google had either not fully digested the news during Friday trade, or were watching see what fallout might continue over the weekend, before pricing in any hit to the company’s value.
So what was affected in the breach?
Though consumer Gmail and Cloud accounts were not directly compromised, the incident has triggered an aggressive wave of phishing and impersonation attacks targeting users across the platform.
The leak, which exposed hundreds of thousands of sensitive documents and personal data, has underscored growing concerns about cybersecurity risks facing major tech firms.
Still, despite major data breaches at all the tech giants, seemingly in an endless game of round robin, investors continue to believe the potential of these companies outweighs most security concerns.
Alphabet said in a statement it is investigating the breach and implementing additional security measures, but the incident has added to scrutiny of data management practices across the industry.
“The safety and privacy of user data are paramount,” it read. “We are working diligently to address these issues and prevent future incidents.”
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