Investors infaturated with anything Internet; Early profits drive stocks even higher, but the climb leaves some a bit unsure.
If they only knew that climb would last another four years before the dot-com bust. The story goes on to say:
The lightning runup has pushed some of the stocks to valuations that would make anyone’s head spin. Netscape, for instance, closed Friday at 325 times earnings estimates for 1996 of 30 cents a share.
Remember, this is when Netscape reported a profit of 4 cents a share. We remember when some of the dot-coms were bleeding red ink every quarter but their stocks kept doubling. What a wild ride it was.
