#IBM November 15
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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 IBM.
IBM, originally known as the Computing-Tabulating-Recording Company (CTR), was founded in 1911 through a merger of four companies led by Charles Ranlett Flint. In 1924, under the leadership of Thomas J. Watson Sr., CTR was renamed International Business Machines (IBM).
The company first joined the Dow Jones Industrial Average (DJIA) in 1932 but it was dropped in 1939. It sat on the sidelines for 40 years before it returned on June 29, 1979. When it was added for the second time it replaced Chrysler. In 1979 the DJIA was sitting at 841.98 and on November 13, 2024 it was at 43,958.
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 15th-IBM
When IBM joined the DJAI in 1979 its biggest selling product were main frame computers. Today the company generates almost 40% of its revenue from software applications.
The company stock price closed at $73.37 the first day it was back on the Dow in 1979. This week the stock was listed for $210.92. Due to a series of splits one share of IBM purchased in 1973 would be about 20 shares today.
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