Remembering the crazy dot-com boom. In November of 1998, a small California Internet provider named AvTel Communications announced they were providing local ADSL service to the community via a typical (and innocent, at least so it was thought) corporate press release. Business wires
spin completely mis-interpret the release, CNBC talks about it on air, then clueless investors hoping to get rich quick start throwing money at the stock causing the stock price to rise an amazing
1284% in one day before trading is suspended. After several
class-action suits, and a company
re-name, the company managed to survive the hoopla, but only barely. Now they're being
de-listed like yesterday's trash. Did something like this ever happen to a company for whom you worked? Let's share!
(Yeah, I worked there then.)
posted by WolfDaddy
on Sep 12, 2002 -
10 comments