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Investing.com – Exelon stock (NASDAQ:EXC) traded nearly 29% lower in premarket Wednesday as the separation of Constellation Energy (NASDAQ:CEGVV), its former power generation and competitive energy business, came into effect.
Under the terms of the demerger, Exelon shareholders received one share of Constellation stock for every three shares held at close January 20, the record date for the distribution.
The company’s transmission and distribution utility business will stay housed under the name Exelon and trade on Nasdaq under the ticker symbol ‘EXC’.
Constellation has begun trading on the Nasdaq Global Select Market Wednesday with its symbol being ‘CEG’.
Exelon serves more than 10 million customers across a large, mainly urban, service area in Delaware, the District of Columbia, Maryland, New Jersey, Pennsylvania and Illinois.
