Angi Stock Rises as IAC to Spin Off Home Services Provider
1. IAC plans to spin off Angi to shareholders for focused growth. 2. Joey Levin steps down as IAC CEO, becomes Angi's Executive Chair. 3. Spinoff aims to enhance IAC's acquisition capability and management focus. 4. Angi shares increased by about 3% following the announcement. 5. Stock price for IAC dropped approximately 3.5% in reaction.