2000: Peak of the “Dot-com Boom” on the U.S. Stock Market

2000: Peak of the “Dot-com Boom” on the U.S. Stock Market
Photo Credit To Wikipedia Commons

Story Highlights

  • Historical event:
  • 10. March 2000
  • In early 2000, the total value of internet “dot-com” companies was estimated at several thousand billion dollars. However, that bubble soon burst.

On this day in 2000 the NASDAQ stock index reached the value of 5,408.60. This is considered the peak of the “Dot-com Boom” or “Internet Boom” in the USA. Individual companies saw an unprecedented rise of stock prices in a very short time.

The phenomenon of “dot-com” companies, i.e. companies that did most of their business online was so important that 16 such companies paid an average of 2.2 million dollars for advertising during Super Bowl in January 2000 (among them were LastMinuteTravel.com, AutoTrader.com, Pets.com, Computer.com, and Hotjobs.com).

In early 2000, the total value of internet “dot-com” companies was estimated at several thousand billion dollars. However, that bubble soon burst. The NASDAQ index collapsed very quickly, and many dot-com companies went bankrupt. Already in 2001, most of the surviving dot-com companies weren’t advertised during Super Bowl.

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