News

Rainbow Tracker Begins Trading

4/01/2001 8:00 PM Eastern

NEW YORK -Rainbow Media Group Inc., the national programming arm of Cablevision Systems Corp., started trading on the New York Stock Exchange as a tracking stock Friday, at the high end of most analysts' estimates.

Rainbow opened at $25.20 per share, above the range of $20 to $25 that most analysts had predicted. The stock is trading under the symbol RMG.

RMG opened at $25.20 per share, but as the morning wore on it began to decline and dropped $1.15 apiece to $24.05 at 11:22 a.m.

Rainbow shares were distributed as dividends to Cablevision holders.

Want to read more stories like this?
Get our Free Newsletter Here!
August

Cloud Summit

Raleigh Marriott City Center, Raleigh, NC

October