NASDAQ: Microsoft stock closed down $1,874.74 in premarket trading on Friday after the company reported that it sold off all of its stock holdings.
The company said in a statement on Friday that the sale of its common stock in December was part of a strategic shift in focus to focus on “technology addiction” as the company attempts to address a growing problem of tech addiction among its customers.
The stock fell 6.2% after trading up 6.3% in pre-market trading.
The company said that the decision to sell its common shares came after the financial results and guidance for the first quarter of 2019 were released.
The statement did not specify when the company planned to begin selling off its common stocks.
Microsoft also said that it would be releasing additional financial information later this week.