How did Google's Stock Split affect market capitalization?

Question

So Google split its stock in 2014 2 for 1. Everyone with a Class A share got a Class C share.

Supposedly this meant that the price of each share was halved so that it would be easier for new investors to buy shares. However when you look at the graph of Google's share prices there is no halving. Google's class A share price did not go down at all in 2014. Looking at it here: https://www.nasdaq.com/market-activity/stocks/googl

It seems as though Google doubled its market cap overnight in 2014 when the stock split. When you calculate Google's market capital now you have to use the price of the class A shares combined with Class C or about $5300. see my other question:

I calculated Google's IPO valuation using this chart and the result doesn't match the value on Wikipedia

So what is going on here and what am I missing in the graph of google's share price?

Answer 1

A stock split has no effect on corporate metrics, market stats, shareholder equity, etc. The only things that change are the number of shares outstanding, share price, and the amount of dividend paid per share (if there is one).

If a company effects a two for one split, you end up with twice as many shares at half the price with each share paying half the previous dividend.

Because share price has been altered by the stock split, historical prices are adjusted to reflect the stock split and therefore, they do not appear on price charts unless you are using a charting service that gives the option to view unadjusted share prices.