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this post was submitted on 20 Aug 2023
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Asklemmy
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Google's shares are divided into two types, Class A and Class C. Class A shares, traded as GOOGL, confer one vote per share as a typical stock would. Class C shares, traded as GOOG, confers no voting privileges. This dual shares system was done to raise more money selling less useful Class C shares (intended for mutual funds and the like) while keeping control of the company in the hands of those held on to Class A shares (i.e. longtime executives).
Ah, thanks for the info. That's actually what I suspect is happening with the new fractional shares thing, but the brokerage is the one retaining control.