A quiz question · hard
What was the peak share price of the South Sea Company in June 1720?
The price rose tenfold from £128 in January to £1,050 on 24 June 1720, then collapsed to £190 by end of September. Newton lost about £20,000. Chancellor Aislabie was imprisoned.
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The British Joint-Stock Company That Took Over Most of the National Debt in 1720 and Whose Share Price Rose Tenfold in Six Months Before Collapsing in September The South Sea Company's January 1720 deal with the British Treasury exchanged government debt for company shares. The share price rose from £128 in January to £1,050 in late June. It collapsed to £190 by the end of September. Many of the Whig political class were ruined; several Treasury and Mint officials were imprisoned; Isaac Newton lost about £20,000 of his own money in the crash.
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