The company’s shares will trade in the range of $100 per share.
Buying a single share of some of the world’s largest technology companies used to cost investors thousands of dollars.
Alphabet Inc. shares begin trading in the $100 range after the 20-to-1 split is completed in accordance with Amazon.com Inc.’s plan.
Amazon and Shopify stocks continue to fall after split
At the start of Monday, the alphabet was the best-selling stock on the Fidelity platform, and its ticker drew a lot of attention on the Reddit platform WallSrteetBets. The stock received more than eight times the number of buy orders as it did sell orders.
The stock split is purely cosmetic, redistributing the company’s capital into more shares. However, some investors interpret them as a bullish sign that the company is upbeat about its prospects.
At the same time, a stock split may have advantages, such as allowing companies like Alphabet and Amazon to join the Dow Jones Industrial Average, which is weighted based on share price rather than market value.