Article Abstract:
Underwriters and executives of startup companies have lost confidence in the viability of the technology stock market with the declining numbers of companies which are offering IPOs. When the IPO boom was reaching its peak in Mar 2000, 151 companies filed to become publicly traded. As of August, 2000 only 43 companies filed, prolonging a five-month decline, and as of September, only seven companies have filed IPOs. Observers say investors now prefer to invest in companies that have achieved and developed a more advanced business plan.
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Article Abstract:
Analyst Abby Joseph Cohen has turned optimistic about technology stocks. She suggested that while the economy is slowing, the backdrop for technology investments is favorable. She also noted that the slowing economy will lengthen the prosperous times and that technology will continue to grow as a percentage of the gross domestic product of the world. Her words usually carry more weight. She rightly turned bearish on tech stocks before the stock market correction in Mar 2000.
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Article Abstract:
Wall Street imploded due to news of violence in the Middle East, possible sabotage of a US warship, rising oil prices and bad news from a top retailer. Technology stocks suffered as the Nasdaq composite closed on Oct 13, 2000, down 93.81 points, or 3.0% at 3074.68. The Standard and Poor's 500 lost 34.81 points, or 2.6% to 1329.78. The Dow Jones industrial average dropped 379.21 points, or 3.6%, to 10,034.58.
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