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Enron: The Smartest Guys in the Room

Quiz: QUIZ: How Much Do You Know About Enron?

Question 1 of 10

In 2000, Enron stock was worth $90 a share. What was it worth on November 28, 2001?

  1. Less than $1
  2. $10
  3. $20
  4. $40
  5. $60
Correct!

On November 28, 2001, at the end of the day's trading, Enron's stock price took a sharp and irreversible nosedive. Dynegy, another Houston energy company, was originally going to merge with them, but when Enron's financial problems came to light, Dynegy promptly broke off the deal. Without it, there was no way to address the billions of dollars in debts that Enron were required to pay in 2002, and their credit rating plummeted as a result. This caused an almost total devaluation of Enron stock, which ended the day with a price of $0.61 per share.

SOURCE: An Implosion on Wall Street | New York Times