This week in our Masters in Business radio podcast, we speak with Henry Blodget, head of of Business Insider.
Blodgett was a little-known stock-market research analyst who in October 1998 made the stunning prediction that Amazon.com, then trading at about $240 a share, would reach $400 during the next year. The stock hit his projection three weeks later and a Wall Street media darling was born. Blodget later paid a $4 million fine and was banned for life from the securities industry by the Securities and Exchange Commission amid accusations of writing biased research reports during the dot-com boom. He later became chief executive officer and editor-in-chief of Business Insider, one of the fastest growing news websites, with financial backing from Amazon founder Jeff Bezos.
