RTTNews | Dec 30, 2021 10:21AM EST

10:20 Thursday, December 30, 2021 (RTTNews.com) - Shares of Vector Group Ltd. (VGR) tanked over 30% on Thursday morning after the company announced that it has completed the spin-off of Douglas Elliman Inc. into a standalone, publicly traded company.

VGR is currently trading at $11.86, down $5.30 or 30.89%, on the NYSE.

Douglas Elliman's common stock will begin "regular way" trading on the New York Stock Exchange on December 30, 2021 under the symbol "DOUG" and Vector Group will continue to trade on the NYSE under the symbol "VGR".

Vector Group will continue to operate its tobacco business, which includes the manufacturing and sale of cigarettes in the U.S. through its subsidiaries Liggett Group LLC and Vector Tobacco Inc., and will continue to own interests in numerous properties and real estate projects across the U.S. through New Valley LLC.

Read the original article on RTTNews ( https://www.rttnews.com/3252096/vector-group-tanks-30-as-it-completes-douglas-elliman-spin-off.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved