#GoldmanSachs November 13
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Throughout November 2024, several of us are taking part in the 30-Day Dow Jones Coach4aday Challenge. Each day, we explore the history or learn about a company within the DJIA—a key economic and stock market indicator. Today’s post is on GOLDMAN SACHS.
Goldman Sachs was founded in 1869 by Marcus Goldman, a German immigrant, as a small commercial paper business in New York City. The firm grew rapidly in the early 20th century, establishing itself as a prominent investment bank, particularly known for innovations in securities and market-making, including its pioneering role in initial public offerings (IPOs). Over the decades, they expanded globally and diversified its services, eventually becoming a leading multinational investment banking and financial services firm, though it also faced scrutiny and legal challenges following the 2008 financial crisis.
Goldman Sachs joined the Dow Jones Industrial Average (DJIA) on September 23, 2013. It replaced Bank of America, marking a shift in the DJIA’s financial representation and underscoring Goldman Sachs’ influence in global investment banking and financial services.
Dow Jones 30-Day Challenge Guidelines
Like previous challenges there are no hard and fast rules to participate. There are a few suggested guidelines
- Each day in November 2024 write about the history or a company that makes up the Dow Jones.
- Share at least one fact about that company.
- If so inclined use the hash tag #Coach4adayChallenge on social media platforms
November 13th-Goldman Sachs
When Goldman Sachs became part of the DJIA on September 23, 2013, it was trading around $160.00 per share. On November 12, 2024, it was trading right around $600.00 per share. During the 2008 crisis the price was hovering in the $40.00 range. That crisis had them transition to a bank holding company.
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