Alphabet stock rallies after 20-for-1 stock split takes effect

Shares of Alphabet Inc.
GOOGL,
+1.28%
GOOG,
+1.19%
rallied in premarket trading Monday, on the first day after the internet search giant’s 20-for-1 stock split took effect. The more active Class A shares were trading up 1.6% at around $113.57, after closing Friday at a split-adjusted $111.78, which represents a pre-split-adjusted price of $2,235.60. The Class C shares climbed 1.6% ahead of the open, and were trading around $114.54 after closing Friday at a split-adjusted $112.77, or pre-split-adjusted $2,255.40. The Class A shares’ record high is now a split-adjusted $149.84 on Nov. 18, 2021. The stock has dropped 22.8% year to date, while the S&P 500
SPX,
+1.92%
has shed 19.0%.