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Google's parent Alphabet had results out on Tuesday night that were very, very good. That sent shares up to a new all-time high in trading on Wednesday, above $3 000 per share. They closed up 7.5% on the day.
The company delivered an unexpectedly strong surge in search advertising revenue for the fourth quarter. Apparently, the performance was raised by a series of artificial intelligence enhancements that made ads and paid-clicks more effective. Their YouTube and cloud hosting businesses did well too.
In other news, they announced that they plan to enact a 20-for-1 stock split in mid-July, giving shareholders 19 more shares for every one they own (of all classes, GOOG and GOOGL).
Stock splits had fallen out of favour over the last 15 years, but recent splits by Apple, Tesla and Nvidia have worked well, perhaps by making their shares more affordable for individual investors.
Keep mind that the split does not change the value of your holdings on the day that it happens, because a lower per-share price is matched by a higher number of shares.
Anyway, all that you need to know is that Google is a fantastic company, and one that you should continue to buy and hold!
