Alphabet, Google’s parent company, is splitting up its stock to enable affordability, leading to a surge in the share price as retail traders will now be able to own a part of the company instead of opting for fractional shares.
“Alphabet today announced that the Board of Directors had approved and declared a 20-for-one stock split in the form of a one-time special stock dividend on each share of the Company’s Class A, Class B, and Class C stock,” the company said as part of its quarterly earnings report (pdf) published Tuesday.
