Why Shares of Resideo Technologies Are Falling Today

Shares of Resideo Technologies (NYSE: REZI) fell 16% on Monday morning after Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) made an aggressive move to expand in one of Resideo's top business lines. The stock has been largely a dud since being spun out of Honeywell International in 2018, and the news didn't get any better for Resideo investors on Monday. Alphabet's Google business is buying a 6.6% stake in home security specialist ADT (NYSE: ADT) for $450 million as part of a deal that will lead to tight integration between ADT's security products and Google's Nest devices.