IAC Stock Plummets 6.69% to Record Low Amid Financial Struggles

IAC's stock price plummeted to a record low today, with an intraday decline of 6.69%.

IAC Inc. has been grappling with significant challenges that have contributed to its recent stock price decline. Over the past six months, the company's stock has decreased by 32.8%, largely due to poor financial performance. The company's five-year average negative return on invested capital (ROIC) of 6.2% suggests that management has struggled to expand the business profitably.

One of the key issues facing IAC is the decline in digital revenue and the restructuring of its subsidiary, Angi. Despite these challenges, the company has reported a robust increase in cash flow and has outlined growth strategies to address these issues. The company's efforts to counter these challenges are crucial for its future performance and investor confidence.

Despite the ongoing challenges, institutional interest in IAC remains strong. The California Public Employees Retirement System increased its holdings in IAC by 58.2% in the fourth quarter, indicating that some investors see potential in the company's long-term prospects. This institutional support could provide a stabilizing factor for IAC's stock price in the coming months.