NEW YORK (TheStreet) -- Google Inc. (GOOG) is up 2.79% to $582.80 on Thursday, after news the search engine company's shares split two for one yesterday, and will now be listed under the symbols (GOOGL) for Class A and GOOG for Class C.
Both of Google's new non-voting class C shares (GOOG+19.45%) and voting class A shares (GOOGL +18.65%) are posting solid gains.
The split could make the web giant more willing to use equity for major acquisitions by allowing Google to issue non-voting shares that don't dilute the voting rights of CEO Larry Page, director Sergey Brin, and Executive Chairman of the Board Eric Schmidt.
Page and Brin will hold on to 55.7% of the votes thanks to their special class of untraded B shares.
TheStreet Ratings team rates GOOGLE INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOOGLE INC (GOOG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."