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Gerard Moore 06 / November / 21

The price is too high: Google's parent makes 20 out of one share


Overview of growth and other changes at Alphabet
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Alphabet said it wants to split the so-called stock reverse veneer, or the value of a single share, across 20 assets. This is also due to Alphabet's price rising too high, making the stock too expensive for retail investors. On yesterday's announcement and good results, the stock rose 9 percent in after-hours trading to over $3,000.

According to the plan, all shareholders holding Alphabet shares as of July 1 this year will receive an additional 19 shares in their account on July 15.

The split affects all Alphabet shared folders. However, GOOG marked shares have no voting rights while GOOGL marked shares do.

The covid was a goldmine

Alphabet also reported its quarterly results yesterday. Thanks to the large river campaigns caused by the coronavirus pandemic, the company was able to almost double its profit to $20.4 billion. Revenue increased by 32% to $75.33 billion.

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