Google finally decides to split its stock
The split officially went into effect on Thursday; this is almost two years after the company first proposed the move to shareholders.
To add to the stock split, Google will also introduce a new category, Class C stocks, which will trade under the GOOG ticker, with no voting power for carriers. Shareholders will get one share of Class C stock for each share of Class A stock they have. In addition, the original class A shares will trade under GOOGL, a new stock ticker.
Not to be forgotten is the Class B class which will carry 10 votes per share, and which happens to be mostly held by Google founders Larry Page and Sergey Brin and Executive Chairman Eric Schmidt. Managing to leave voting control to them as the shares are sold over time.
Well, Google shares reached a massive $1000 last year and managed to rise to $1200 early this year. Letâ€™s hope that they can keep up their good run.