Google parent Alphabet (GOOG, GOOGL) announced a 20-for-1 stock split effective on Monday, July 18th, 2022 for shareholders on record as of July 1st.
Post split shares are expected to be credited to shareholders’ accounts on Monday, July 18th.
To learn more about stock splits and why they happen, read more here.
How many shares will I receive one the GOOG or GOOGL stock split takes place?
A 20-for-1 stock split means you will receive 20 post split shares in exchange for each share you own pre split. For example, if you owned 10 shares of GOOG or GOOGL on July 1st (record date), these shares would be exchanged for 200 post split GOOG or GOOGL shares.
When will I receive my new shares of GOOG or GOOGL post split?
Shares are expected to be credited to your Invest account on July 18th 2022.
Will this split affect the value of my GOOG or GOOGL holding?
Splits do not impact the value of your holding. However, account and position market values may display incorrectly on SoFi during the weekend as share counts update prior to the price updating during Monday market hours. Please note that the action of a stock split, there may be movement in the market that could cause the post split share price to fluctuate.
If I already own shares of GOOG or GOOGL, what do I need to do to take part in the stock split?
There is nothing that you need to do to ensure your shares are included in the stock split. When a company has a stock split, it is automatically applied to all shares.
If I want to participate in the GOOG or GOOGL stock split, when do I need to own the shares?
In order to participate in the GOOG or GOOGL stock split you would’ve needed to own shares before the market opened on July 1st, 2022.
Can I sell the new shares received in the stock split immediately?
Post-split shares should be in members’ accounts before trading begins at 9:30 AM EST on Monday, July 18th, and available to sell once the market opens.
Will fractional shares in GOOG or GOOGL be impacted by the split?
Fractional share positions will operate just like whole shares. All fractional positions of GOOG or GOOGL will receive 20x the amount of their pre-split position. For instance, if you owned 0.5 fractional shares of GOOG or GOOGL, you would receive 10 whole shares post-split (20 x 0.5) in exchange.
What will happen if I have an open market-on-open order during pre-market on Monday, July 18th?
Market-on-open orders for GOOG or GOOGL will not be executed on Monday, July 18th and will automatically cancel given the stock split.
What will happen if I have an open limit order during the split?
All open limit orders for GOOG or GOOGL will automatically be canceled prior to the market open on Monday, July 18th. This is an automatic action taken by our clearing firm for all securities that undergo corporate actions. You will need to resubmit a new limit order once trading begins on Monday, July 18th.