Google completed its stock split today, roughly halving the value of individual shares while doubling the total number of shares available. This is a common practice for companies whose shares have reached and sustained an expensive all-time high. Google's stock price had topped $1,000 in recent months — by splitting its stock Google makes it cheaper and more attractive to small retail investors. It also gives itself more shares, which are an essential tool for hiring top talent and completing big mergers and acquisitions.
The unusual thing about today's split was that it didn't simply double the number of existing shares, it also splits them into multiple types. It created a new kind of shares, Class C stock, which will trade under a...
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