Barry Ritholtz, Columnist

Three Days That Changed Modern Life

Events on this date in 1945, 1974 and 1995 shaped the world we live in today.

August 9, 2017 at 5:37 PM UTC

Corrected

August 9, 2017 at 7:34 PM UTC

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

This used to be the future.
Photographer: Alain BUU/Gamma-Rapho/Getty Imaghes

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I take it as my mission today to connect the dots among three events -- in reverse chronological order -- that occurred on this date, Aug. 9, in the not-too-distant past.1502297933564

First, on this day in 1995, the internet stock sector was born, when Netscape Communications Corp., a company that just 16 months earlier was founded with the goal of creating the first commercial web browser, had its initial public offering. The shares, priced at $28 each, exploded on the first day of trading. Morgan Stanley, the lead underwriter, had wildly underpriced the IPO.1502298029421 The shares opened at $71 and ended the day at $58.25.1502298096117