Liberty Interactive Corp said on Thursday it would split into two tracking stocks, one for its cable shopping business QVC and the other for its e-commerce holdings including digital invitation site Evite.Liberty Interactive also said it would spin off its stake in travel website TripAdvisor Inc and online retailer BuySeasons into a new company known as Liberty TripAdvisor Holdings.Shares of Liberty Interactive jumped 7 percent to $24.44. The company is hosting an investor day in New York on Thursday.Liberty Interactive is controlled by its chairman, John Malone, who also runs Liberty Media Corp and is known as the "King of Cable" for buying and selling cable and media companies for decades.
Liberty Interactive Corporation owns interests in subsidiaries and other companies which are primarily engaged in the video and on-line commerce industries. Shares of LINTA traded higher by 6.71% or $1.533/share to $24.39. In the past year, the shares have traded as low as $18.69 and as high as $25.25. On average, 2035510 shares of LINTA exchange hands on a given day and today's volume is recorded at 2460992.
TripAdvisor, Inc. (TripAdvisor) is an online travel research company, enabling users to plan and have a trip. Shares of TRIP traded higher by 0.74% or $0.52/share to $71.19. In the past year, the shares have traded as low as $28.63 and as high as $82.19. On average, 1680230 shares of TRIP exchange hands on a given day and today's volume is recorded at 787207.
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