GenentechIn the fall of 1980, Genentech, Inc., a little known California genetic engineering company, became the overnight darling of Wall Street, raising over $38 million in its initial public stock offering. Lacking marketed products or substantial profit, the firm nonetheless saw its share price escalate from $35 to $89 in the first few minutes of trading, marking the largest gain in stock market history at that time. Coming at a time of economic recession
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