Before the Class B stock split, the B shares tended to trade at a discount to A shares as one would expect. Sometimes the discount got pretty extreme as I mentioned in some blog posts back in 2009 (http://www.rationalwalk.com/?p=609 for those interested). There were times when a A shareholder could sell one A share, purchase 32 B shares (this was pre-split) and have a few hundred dollars left over.Since the split, huge B discounts have pretty much disappeared. I haven't been keeping track for quite a while but I happened to look this morning and see a small B premium which is illogical. B shares should never trade at a premium given the superiority of A shares in voting rights along with the convertibility of A shares into B.
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