These 10 Companies Led Monday’s Downturn

2. Millrose Properties Inc. (NYSE:MRP)

Millrose saw its share prices fall by 13.95 percent on Monday to end at $23.01 apiece following the completion of Lennar Corp.’s spinoff of MRP to LEN stockholders.

The spinoff which was completed on Friday involved the distribution of approximately 80 percent of MRP shares to stockholders of LEN.

Each LEN shareholder as of record date January 21, 2025, received one share of MRP common stock.

Investors, however, quickly sold off positions in MRP to book early profits following Friday’s 16-percent premium from Thursday’s closing price.

MRP engages in land purchases, horizontal development, and homesite option purchase arrangements for LEN and potentially other homebuilders and developers.

While LEN is currently MRP’s only customer, the latter anticipates that its “first of its kind” public vehicle will be attractive to other homebuilders seeking to implement an asset-light strategy and believes that becoming a capital source for other homebuilders will provide for accretive growth to the MRP platform.