Why Brookfield Corporation Stock Fell 33% in December
Shares of Brookfield Corporation (NYSE: BN) were cut by one-third in December, according to data provided by S&P Global Market Intelligence.
However, that's a bit deceiving because the company split off a 25% interest in its asset management business, Brookfield Asset Management, and distributed it to shareholders via a unique 1-for-4 stock split. Still, even adjusting for that split, shares were down sharply last month, due partly to troubles at rival Blackstone.
Brookfield Corporation completed the long-awaited split-off of a portion of its asset management business last month. The company formed that business unit more than 20 years ago to capitalize on growing investor demand for alternative investment opportunities, like private equity funds, real estate, and infrastructure. Brookfield grew into one of the largest alternative asset managers in the world, with over $750 billion of assets.
Source Fool.com
