Goodbye stock price, goodbye heady days

Happy birthday tech bubble high, you’re 10 today. Remember the heady days, when the only way was up. It was the beginning of the new millennium and my partners and i had just sold our business, Netzip, to to RealNetworks: all was rosy. Real’s stock price was riding the crest at $81.63 and all the chatter was how it would hit $150 in 12 months. The purchase was a stock deal and what an investment it was set to be. Fast forward 365 days to March 2001…stock price = $6.94 !!!! Ooooppps.

On 10 March 2000, the Nasdaq index of leading technology shares spiked, after that prices fell.

It was a boom that saw stock markets soar, as a whole new generation of companies focussed on the internet attracted a wave of investors’ money.

As the euphoria took hold, some people even quit their jobs to become full-time share traders.

Others claimed that the internet had done away with calculations based on the “old economy” – but the boom turned out to be a classic speculative share bubble like any other.

(compliments of the BBC )