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Technology Stocks : Walt Disney
DIS 146.38-0.3%4:03 PM EST

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From: JakeStraw6/18/2019 8:28:22 AM
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On this day in 1998, internet stocks got an electrifying boost as Walt Disney agreed to buy 43% of Infoseek for roughly $550 million in cash, stock and warrants. Infoseek's stock shot up to $42, then closed at $35.13. By March 2001, Disney had exchanged the old Infoseek assets for its own shares at an approximate value of only $5 per share.
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