Hadekel: After hitting bottom 15 years ago, Nasdaq is back

Montreal Gazette

It was 15 years ago that the dot-com bubble burst. In March, 2000, the tech-laden Nasdaq stock index began a two-year plunge from the 5100 mark all the way to its low point of 1108.

An estimated $5 trillion in value was wiped out and scores of tech companies went broke. Investors, who once were willing to believe almost any growth story about an Internet startup, stampeded for the exits while new entrepreneurs found it almost impossible to raise money.

In the bloody aftermath of the tech rout, it was found that Wall St. analysts had conspired to hype technology stocks, triggering large fines for some of the street’s biggest firms.

Well, guess what? Nasdaq is back.

This week, the index climbed all the way back to the 5000 mark after years of tough slogging. The comeback reflects not only the overall strength of the U.S. stock market but the new…

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