Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened?
On May 24, 1985, Quantum Computer Sciences was founded in Delaware.
Where The Market Was
The Dow finished the day at 1,301.97. The S&P 500 traded at 188.29.
What Else Was Going on in the World?
In 1985, Coca-Cola Co. launched New Coke, triggering major backlash from customers. Michael Jordan was named NBA Rookie of the Year. Average monthly rent in the U.S. was $375.
AOL Is Born
Tech enthusiasts may not remember the name Quantum Computer Sciences, but they sure remember the company itself, which changed its name to America Online, Inc. in 1991. Of course, most early internet users simply know it by the acronym AOL….