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What will be the impact of Google creating a third class of stock?

The more I think about this, the more it makes my stomach churn. It seems like the shares with voting rights should be valued more than the new class of stock, but I'm getting the impression that this is like a 2-1 split, where the number of shares I hold doubles and the value of those shares splits in half. However, because the new class of stock won't have voting rights, I'm guessing people won't be willing to pay as much for it. I'm curious what the people smarter than me have to say about this.

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