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SBJ Article Published June 29, 1998
Cleveland Indians The Cleveland Indians’ stock is falling in the standings. After going public amid intense publicity earlier this month, Cleveland Indians Baseball Co. shares have dropped from their $15-a-share initial public offering. Cleveland Indians IPO Date: June 1998. IPO Price: $15 a share. Current Price*: $11.69. Underwriter: McDonald & Co. Exchange: NASDAQ. Symbol: CLEV. *Price at closing June 22 Generally, IPOs jump in their first days and weeks of trading, but this one was dud...
SBJ Article Published June 08, 1998 by Daniel Kaplan
Now that Cleveland Indians owner Richard Jacobs raised $60 million from his club's initial public offering last week, the question is: Will the Tribe's stock become a fixture on Wall Street, or just on walls? In the nascent world of sports IPOs, there are two kinds of stocks those that look good to investors and those that look better framed behind glass. The Boston Celtics' stock is still near the team's 1986 IPO price, earning a derisive designation as "wallpaper stock." Meanwhile, Wall ...