Google created a corporate structure under a new holding company and moniker called Alphabet in 2015. The short answer is a stock split, but a longer answer is an attempt by the company’s top shareholders—Google co-founders Sergey Brin and Larry Page, along with company chair Eric Schmidt—to retain as much control of the company as possible. Google split its stock in April 2014, which created the A- and C-share classes. Read More...
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Why Nio, Ford, and General Motors Stocks Crashed
Car stocks, in particular, took it on the chin during the session, with Chinese electric car-maker Nio (NYSE: NIO) losing 6.2%, Ford Motor Co. (NYSE: F) down 4.2%, and General Motors (NYSE: GM) losing 5.6%. As Reuters reported, officials from the German state of Brandenburg held a news conference Friday at which they announced they were giving Tesla conditional approval to open its $5.5 billion car gigafactory in Berlin. Tesla, says Reuters, is depending on this factory “to vanquish European market leader Volkswagen.”
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