OPINION: Alphabet and Amazon are well overdue for splits that would bring down their share prices, which could be the first step to a shakeup of the blue-chip Dow Jones Industrial Average, writes tpoletti.
Alphabet Inc. is finally carving into its gargantuan stock price with a stock split, which leaves only one Big Tech company remaining with a huge per-share price despite an easy avenue to change it.
Google’s previous split in 2014 was much different, as it was a vehicle to create a new class of stock that did not convey voting rights, an obvious ploy to maintain the control of co-founders Larry Page and Sergey Brin, who own class B supervoting shares. Class A shares trade under GOOGL, +0.14% and are the original voting shares, while class C shares trade under GOOG, +0.26%, a change that happened at the same time that Google became a unit of a holding company known as Alphabet.
The stock surged again in after-hours trading Tuesday, though that was more likely a result of a blowout holiday-quarter performance that surpassed Wall Street’s expectations. Shares gained more than 9% in after-hours trading, with each trading class topping $3,000 and putting a $2 trillion market capitalization within sights.
With AWS chief Andy Jassy taking over the mothership last year, that looks unlikely. So what’s the holdup, Andy? After all, a split could lead you to blue-chip status on the Dow.
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