This Date In History
|March 21, 2002|
March 20, 1992: America Online Opened On Wall Street At Price Premium
Inman News Features
If the advertisements for the 20th anniversary re-release of Steven Spielberg's 1982 movie, "E.T., The Extra-Terrestrial," are making you feel older, try popping this stat into The Time Machine.
Ten years ago today, America Online held its initial public stock offering. The official price on AOL?s shares was $11.50, but the stock opened at $15.125 on the morning of March 20, 1992.
Since then, the company has announced seven two-for-one stock splits. If you?d purchased 1,000 shares of AOL 10 years ago, your original investment of $15,125 would be worth nearly $3.4 million today.
Dulles, Va.-based America Online is now a wholly owned subsidiary of AOL Time Warner. The company, which purchased Netscape in 1998, focuses on interactive services, Web brands, Internet technologies and e-commerce services.
And now, back to our movie. Elliot and E.T. will be riding their bicycle to a theater near you this weekend.
Copyright: Inman News Service