The NASDAQ finally achieved its all time closing high recently. The world’s second largest stock exchange by the market capitalization was anticipating this moment from very long time. The NASDAQ is also known for the participation of biggest players in the technology like Google, Amazon and Facebook. It hit the mark of 5,056 on Thursday. The previous record was 5,048.62, which was unbreakable since March 10, 2000. Since the Dot com bubble broke in the early 2000, the tech savy index never managed to bounce back.
Today it is major achievements to the financial markets because NASDAQ has finally conquered the Dot com hangover. Clearpool Group’s chief market strategist informed the press that this is very big deal in terms of psychology of the stakeholders. The intraday record of 5,132.52, registered on March 10, 2000 will be broken soon too.
NASDAQ took long time for its recovery from the bubble as compared to the Dow and S&P 500 index which hit record high over a year ago. But all is not well in the finance sector due to this NASDAQ boom. This may also point towards another 2000 like bubble in the markets. When the bubble broke fifteen years ago, people lost their retirement funds due to millions of investments in the tech stocks like Pets.com. Therefore it is quite obvious for the investors to ask this question again when NASDAQ is on rise. The early 2000 period is known for the growth of tech start ups into massive well established businesses.