On March 30, 1999, Priceline.com's initial public offering (IPO) took place. Trading began at $16 and closed at $69, tripling the profits of its initial investors. At the time, the company was trading at a higher price than United Airlines, Continental Airlines, and Northwest Airlines combined, a clear example of the market's irrationality in the midst of the dot-com bubble.
On March 20, 2000, the prestigious Barron's magazine published an article titled "Burning Up," warning about speculation and overvaluation of technology companies. I soon discovered how this "prophecy" came true.
On March 2, 2000, Palm launched its IPO. It was a company that was once a leader in the technology world, but then everything changed. Find out what happened.
On February 16, 1990, Cisco, a key company in the computing world, launched its IPO. Discover how the company has evolved to its present day.
On January 14, 2000, the Dow Jones Industrial Average reached its peak of 11,722 points, the height of the dot-com bubble. Let's see how it happened and what happened next.
On December 9, 1999, VA Linux Systems launched its IPO. Its shares rose from $30 to $320 in a single day, closing at $239.25, a 698% increase. Let's look at the history of this emblematic company of the dot-com bubble.
On December 5, 1996, Alan Greenspan, chairman of the Federal Reserve, delivered a memorable speech in which he spoke of the "irrational exuberance" of the markets. Twenty-eight years after that speech, we recall the meaning of his words and see whether he was right or wrong.
On November 13, 1998, TheGlobe.com launched its IPO (Initial Public Offering), rising 606% on its first day. Pre-registrant subscribers bought it at $9 and were able to sell it that same day at a closing price of $63.50, reaching an intraday high of $97.
On November 3, 1999, the NASDAQ closed at 3,028 points, surpassing 3,000 for the first time. The dot-com bubble was reaching its peak. The New York Times devoted extensive coverage to this milestone. At that point, the NASDAQ had risen by almost 3,001 points over the past four years, but the euphoria didn't end there. By December 3, the NASDAQ had surpassed 3,500 points, by December 29, it had reached 4,000, and on March 9, 2000, it had closed above 5,000.
In a clear indication that the tech bubble was in full swing, the Dow Jones Industrial Average underwent a radical change in its composition on November 1, 1999. On this date, tech giants like Microsoft, Intel, and Home Depot joined the index, while long-established industrial companies like Chevron, Goodyear, and Sears were excluded. Sears's departure, for example, marked the end of a 75-year uninterrupted presence in the Dow Jones. Let's look at the full story of how the dot-com bubble unfolded.
On December 19, 1998, the impeachment trial of US President Bill Clinton began in connection with his extramarital affair with intern Monica Lewinsky. Let's examine the impact this scandal had.
