NASDAQ breaks record set 15 years ago at top of dot-com boom

“The Nasdaq composite is finally back to where it was 15 long years ago at the tippy-tippy top of the dot-com stock bubble,” as USA Today is reporting. “The tech- and biotech-fueled stock index closed at a new record high Thursday, finally wiping out all of the nearly 80% loss it suffered after the tech-stock crash in 2000.

“The old closing record of 5048.62 dating back to the dot-com era and March 10, 2000, was eclipsed Thursday. The Nasdaq, the onetime posterboy for stock market excess, climbed 20.89 points, or 0.4%, to a new all-time closing high of 5056.06.

“After crashing during the 2000-02 bear market, few folks on Wall Street thought the Nasdaq, which arguably was the biggest stock market bubble in history, would ever hit a new high in their lifetime.

“’No, I didn’t think I’d see it, but then again, I didn’t think I’d see the Berlin Wall come down so peacefully,’ says Quincy Krosby, a market strategist at Prudential Financial. ‘I didn’t think I’d see Nasdaq climb this high in just 15 years , but then again I never thought I’d see the Fed’s balance sheet reach $4.5 trillion, either.’”

The rest of the article is here.

Author: jeffpelline

Jeff Pelline is a veteran editor and award-winning journalist - in print and online. He is publisher of Sierra FoodWineArt magazine and its website SierraCulture.com. Jeff covered business and technology for The San Francisco Chronicle for 12 years, and he was a founding editor and Editor of CNET News for eight years, among other positions. Jeff has a bachelor's degree from UC Berkeley and a master's from Northwestern University. His hobbies include sailing, swimming, and trout fishing in the Sierra.

2 thoughts on “NASDAQ breaks record set 15 years ago at top of dot-com boom”

  1. To be sure, our community has not rebounded like the Nasdaq or “The Coast” of California. We are now on Dollar General’s radar.

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