Keep pulling the thread on Kyle Grieve.
Electronic Data Systems (EDS) went public at an IPO price of $16.50 per share, representing a 118 times earnings multiple.
On April 22, 1969, the stock price of Electronic Data Systems (EDS) dropped by 50% to 60% in a single day.
Edward Gilbert illegally used approximately $2 million from the treasury of his company, Bruce, to cover personal margin calls.
In 1964, Atlantic Acceptance Corporation reported profits of $1.4 million, but it had actually incurred a loss of $16.6 million due to fraudulent accounting.
The collapse of Atlantic Acceptance Corporation had systemic effects on the Canadian economy, forcing the Central Bank of Canada to increase the money supply to prevent a credit panic.
In April 2020, Luckin Coffee disclosed that over $300 million of its 2019 revenue had been fabricated.
James Ling's company, Ling-Temco-Vought, rose from 204th on the Fortune Directory of Largest US Industrial Businesses in 1965 to 14th by 1969.
Litton Industries reported earnings of 21 cents per share, a significant miss from the 63 cents per share reported in the same quarter of the previous year.
To manage the back-office crisis, the New York Stock Exchange was closed for trading every Wednesday for a period of time.
The stock price of Ling-Temco-Vought collapsed from a peak of $170 to $16 during the 1970 market crash.
An index of 30 leading conglomerate, computer, and technology stocks from the go-go years experienced an average decline of 81% between 1969 and 1970.
During the 1960s, some of America's most prominent companies traded at price-to-earnings multiples exceeding 90 times.