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This Day In 1999

Posted by StockBuz on April 30, 2014 at 7:11am in Opinion

1999: Priceline.com, ($PCLN) which had gone public at $16 a share exactly one month earlier, closes the day at $162.375 -- giving the tiny Internet company a one-month return of 914.8% and a total market value of $23 billion. It's probably the fastest and stupidest stock run-up yet recorded. But it's all downhill from here, as Priceline.com ends up losing 99% of its value by the end of 2000.

Fast forward 15 years and everyone books airfares and hotels online. Everyone. PCLN closing price yesterday was $1154.84 after reaching an all time high of $1378.96. Oh to have bought that dip!

Was TWTR the tech top in the recent bull market? Will we reach a new high and wait for Alibaba? Are we in a Fed-induced bubble or as Einhorn states, only in select areas? What are your thoughts?

Data courtesy of JasonZweig

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