The Nasdaq hit its peak 15 years ago this month on a short-lived frenzy of speculation that resulted in one of the most monumental stock market crashes in history. But as it once again approaches those old lofty heights, analysts say things will turn out differently this time.
The U.S. equity index most synonymous with the dot-com boom and bust of the late 1990s and early 2000s is on the verge of a record high, but its slow and steady ascent this time around shows few signs of slowing down.
This bull market ride is not quite over just yet
“We still scratch our heads about companies with a dot-com trading at stratospheric multiples with no underlying business other than a web domain name,” said Arthur Salzer, chief executive at Northland Wealth Management in Markham, Ontario. “But this bull market ride is not quite over just yet.”
The Nasdaq closed…
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