Alphabet Stock Split Lands With a Thud in Worry-Filled Market
- The stock has lagged this week after completing 20-for-1 split
- It’s the latest sign that stock splits are losing their luster
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Even for Alphabet Inc., financial gimmickry is no match for the power of the bear market.
The Google parent’s shares sank 2.5% on Monday, the first day of trading after a 20-for-1 split that brought its stock price down to the $100 range from more than $2,000. Alphabet shares dropped more than 3% this week while the Nasdaq 100 Stock Index advanced and has fallen more than 20% since the split was announced Feb. 1.