Oil Now Out-Bubbles Dot-Coms ; Crude's Up 697%, Web Rose 640%
The Record, Bergen County, NJ › June 17, 2008
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Summary
NEW YORK The rally that recently drove oil to a record $139.12 a barrel surpassed the gains in Internet stocks that preceded the dot- com crash in 2000.
Crude has risen 697 percent since trading at $17.45 a barrel on the New York Mercantile Exchange in November 2001 and reached 28 record highs this year. The last time a similar pattern was seen in equities was eight years ago, when Internet-related stocks sent the Nasdaq composite index up 640 percent to its highest level ever, according to data compiled by Bloomberg and Bespoke Investment Group LLC.See the full content of this document
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Oil Now Out-Bubbles Dot-Coms ; Crude's Up 697%, Web Rose 640%
The Nasdaq tumbled 78 percent from its March 2000 peak, erasing about $6 tr...
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