Corteva Inc. completed the spin-off of its seed and genetics business into separately traded Vylor Inc. on October 1, 2026, leaving Corteva focused on crop protection. A new report said Corteva shares collapsed 83% to an all-time low on Thursday, erasing more than $42 billion in market capitalization, while existing market data showed an 81.35% decline to $14.48 in premarket trading. The discrepancy likely reflects different reporting points or measurements, but both figures capture the mechanical transfer of Vylor’s value away from Corteva rather than an equivalent destruction of shareholder wealth. Shareholders of record as of September 24 received Vylor shares while retaining their Corteva holdings. The separation proceeded after a federal appellate court and the U.S. District Court for the District of South Carolina rejected California’s efforts to halt it. California alleged the transaction was a fraudulent transfer intended to shield Corteva from legacy PFAS environmental liabilities. Corteva’s remaining business has nearly 9,000 employees, serves customers in about 110 countries and maintains an $11 billion crop protection development pipeline. Vylor simultaneously completed debt exchanges covering $434.841 million of 2030 notes, $476.214 million of 2032 notes and $527.584 million of 2033 notes.