August 21st – This Day in Stock Market History

August 21st - This Day in Stock Market History
August 21st – This Day in Stock Market History
For more, visit: https://www.begintoinvest.com/august-21/

August 21st, 1996 – As the tech bubble inflates and the internet becomes more popular, internet browsers are the talk of Wall Street. On this day Netscape releases the third version of its internet browser, Netscape 3.0. At its peak, Netscape would have 60% of the internet browser market share. The release would coincide with a sharp 20% rise in Netscape stock over the remainder of 1996.

However, Netscape’s stock would never surpass its 1995 peak shortly after its August 9th, 1995 IPO. You can view Netscape’s stock chart at the link below.

August 21st, 1998 – As the Russian debt crisis unfolds, one hedge fund in particular is feeling the pain. On this day alone, Long Term Capital Management loses 3 million dollars. The fund’s equity has fallen from .67 billion at the beginning of the year to .9 billion. The hedge fund would be bankrupt in a month.

U.S. stock markets fell as much as 3.25% on this day in 1998, but recovered to close down just 0.9%. The Russian crisis would lead to a 20% decline in U.S. markets.

Russia’s stock market finished the week down, for a total weekly decline of more than 28%! The nation’s stock market would lose more than 40% of its value in the month of August alone, and 85% from its 1997 peak:

Best August 21st in Dow Jones Industrial Average History:
1991 – Up 3.02%, 88.10 points.

Worst August 21st in Dow Jones Industrial Average History:
1915 – Down 3.22%, 2.55 points.

For more, visit: https://www.begintoinvest.com/august-21/

August 21st – This Day in Stock Market History
August 19th - This Day in Stock Market History
August 19th – This Day in Stock Market History
For more, visit: https://www.begintoinvest.com/august-19/

August 19th, 1998 – Russia’s economic crisis is rapidly escalating. The day prior the country devalued its currency, the Ruble, in an attempt to help its banks make payments to foreign lenders. On this day, Russia failed to make payments on its GKOs, which were short term Russian bonds, officially defaulting on its debt.

The Russian stock market would decline 9.42%, putting the Russian stock market down 40% for the month of August and at all-time lows.

August 19th, 2004 – Internet search giant Google (now known as Alphabet) has its initial public offering (IPO), where a total of 19,605,052 shares were offered at per share – giving Google a market cap of about billion. Shares would finish their first day of trading up 18% to 0.34 per share. With today’s market cap around 0 billion, Google shares have had a nearly 30% compounded annual growth rate since their IPO.

What were potential Google investors looking at in 2004? You can read Google’s initial SEC filing (known as an S-1), where their financials are disclosed, at the link below.

Best August 19th in Dow Jones Industrial Average History:
2002 – Up 2.42%, 212.73 points.

Worst August 19th in Dow Jones Industrial Average History:
1903 – Down 4.07%, 1.597 points.

For more, including a look at Google’s initial letter to shareholders which was modeled after Buffett’s, visit: https://www.begintoinvest.com/august-19/

August 19th – This Day in Stock Market History