Dean Foods takes a hit on WhiteWave spin-offOctober 26, 2012: 12:43 PM ET
Investors were lactose intolerant Friday.
Dairy giant Dean Foods officially spun off one of its most profitable subsidiaries through an initial public offering late Thursday.
Shares of WhiteWave (WWAV), which makes Horizon Organic and Silk soymilk, among other things, opened sharply higher, but fell back later in the day to trade near the IPO price of $17 a share.
Meanwhile, Dean Foods (DF) shares plunged 13% after the stock was downgraded by analysts at Stifel Nicolaus.
StockTwits traders had plenty to say.
Here's where it gets interesting.
Dean Foods retains an 88% stake in WhiteWave, according to the company's prospectus. So the sell-off in shares of Dean Foods was somewhat perplexing.