Why did GOOGL move on Jun 1, 2026?

Alphabet's stock fell in after-hours trading following the announcement that the company reached an agreement to sell $10 billion of its stock to Berkshire Hathaway Inc. in a private placement [1]. While the stock saw a minor 0.3% tick upward in the immediate fifteen minutes following the news [1], the massive private placement of shares likely pressured the stock price downward during the post-market session.