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.
Sign Up and Save
Get six months of free digital access to The Charlotte Observer
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.