Updated from 10:41 a.m. EST to provide analyst comments in the thirteenth paragraph.MOUNTAIN VIEW, Calif.( TheStreet) - Google's ( GOOG) decision to offer an unusual stock split last night left some scratching their heads. The decision may not be such a bad thing, though. Google announced that it would be creating a new class of stock, effectively issuing a stock split that is "designed to preserve the corporate structure that has allowed Google to remain focused on the long term." On the conference call, CEO and co-founder Larry Page said that many investors have asked for a stock split, and this effectively grants it to them. This, however, isn't the traditional stock split, in that Google is creating a third class of stock that will have no voting power. Google already has class A and B shares.
|CEO Larry Page|