Nasdaq reaches 5000 for the first time
Wednesday, March 4th, 2015
For the second time in history the Nasdaq has exceeded the 5,000 mark. The last time the Nasdaq reached such great heights was just before the tech wreck in 2000. When it hit 5,000 in the year 2000 the composite index rate collapsed to almost 1,000 as a result of the dotcom bubble bursting.
Reaching this milestone again has spurred a flurry of articles about how this time will be different. Business Insider notes that the Nasdaq of today is not as tech-heavy as it was back in the late 1990’s, it is made up of about 47% tech stocks compared to 60% in 2000.
But is this time really that different? Technology stocks still make up almost half of the index and with current top stocks such as Apple, Google, Facebook and Amazon, is the index really that different from 15 years ago? Let’s just hope that history does not repeat itself.
Article by James Jones
The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com
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