Google’s been planning on splitting this stock for a while now, and following several months of trading at over $1100, the split has finally arrived.
Today, in a straight up 2 for 1, if you’re lucky enough to own some Google Stock, you just doubled your shares. This split also creates a “Class C” stock where people can own a chunk of the company but forfeit voting rights. It’s a smart play for Google as it helps insure company control as stocks are often used for acquisitions and employee compensation.
It’s not without a little controversy however as some analysts are claiming this move is intended to dilute voting rights.
Shares split today and traded as high as 580, at the time of this writing they’ve settled down to the high 560’s. Do you own any Google stock? Will this split affect your investments?