1999: eToys Inc., a startup Internet retailer, goes public on NASDAQ. Initially expected to be priced at $10-$12 per share, the stock is underwritten at $20 and quadruples before the opening bell can even ring.
The first trade is at an astonishing $83 9/16. The shares close the day at $76 9/16, a one-day return of 282.8%.
Just 19 months later, on February 26, 2001, the company announces that it will file bankruptcy.
(It was acquired by Toys “R” Us in February 2009).
via Jason Zweig
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.