|2011-08-09, 03:09 PM||#1|
Join Date: Dec 2001
AOL shares plummet
The past few days have been a sob story for stocks, and AOL needs even more tissues than most.
Shares dropped 21% after releasing financial results. Shares are down almost 47% year-to-date, and they closed at an all-time low last week.
It's all a far cry from 2001, when then-powerhouse AOL took over Time Warner in 2001 for $111 billion. By late 2009 -- when Time Warner spun off AOL and unwound what's now considered one of the worst mergers in history -- AOL was worth only $3 billion.