Google's name change and restructuring may give the company's stock a much-needed boost, Elevation Partner's Roger McNamee said on Monday.
"I don't think it's different in any way that matters until there are tracking stocks for the two pieces," he told CNBC's "Squawk Alley." "Once the financial returns are directly tied to those two pieces, that unlocks an enormous amount of shareholder value."
Shares of Alphabet, the new umbrella company for Google, rose in their trading debut on Monday. Each share of the old Google is worth one share of Alphabet, the stock codes remain the same, and the number of shares outstanding is unchanged.