Apartment Investment and Management Company (NYSE: AIV) shares sunk -72.21% to $11.49 in the pre-market session after revealing separation into two publicly traded companies, Apartment Income REIT Corp. and Aimco. Aimco will continue the growth of its apartment development business and look for other opportunities to create value across the U.S. multifamily sector.
On December 15, 2020, shares of AIR common stock were distributed to Aimco shareholders, with each holding one share of AIR Class A common stock for every share of Aimco Class A common stock they held on December 5, 2020. Aimco shareholders will receive cash as a substitute for any fractional shares of Class A common stock of AIR.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The “AIV” symbol continues to be used for Aimco’s common stock on the New York Stock Exchange.