In the company's first official day of trading as a stand-alone company, shares of Charlotte-based Tree.com Inc. were up more than 3 percent to $7.67 by midafternoon.
Tree.com, the parent of LendingTree and Realestate.com, was spun off today from New York-based IAC/InterActiveCorp, which is honing its focus on its Internet businesses. IAC also spun off home shopping network HSN Inc., time-share firm Interval Leisure Group Inc., and ticket purveyor Ticketmaster.
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Based in Ballantyne, Tree.com is looking to diversify beyond its well-known online lending exchange into credit cards, insurance and other products. The company now trades under the “TREE” symbol it used before its sale to IAC in 2003.