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Word Count: 777
Near the turn of the century many inexperienced investors jumped into the stock market They watched with glee as the market continued to skyrocket higher and higher seemingly without a ceiling in sight The NASDAQ 100 Trust Ticker Symbol QQQ is a very good indicator of this market It represents the top 100 stocks in the NASDAQ market When QQQ arrived on the market in March of 1999 the public offering price was 5247 In March of 2000 QQQ reached a high point of 21350 A year later QQQ was valued at 3915 As of February 2003 QQQ is priced at a paltry 2421 To sum up these numbers the top barometer of the NASDAQ stock exchange QQQ has lost nearly 89 percent of its value in the past three years Many individual stocks have lost even more than the 89 percent that has been lost by QQQ The stock market soared during the late 1990s because the economy was very robust Many brokers and analysts proclaimed the Internet as the future of retailing Many experienced investors shifted their resources and funds to upstart Internet companies driving those stocks prices rapidly higher For example in January of 1999 a single share of QualComm stock could be purchased for 823 Eleven months later the stock peaked at an astonishing 74012 a share Thousands of rookie investors poured money into stocks such as QualComm as it raced higher and higher by the day Analysts hyped QualComm proclaiming it would continue this trend for years to come Unfortunately for many of these first-time investors the market corrected itself and the price for QualComm sped back down By June of 2000 QualComm was priced at 6000 a share a mere shadow of its former self Many inexperienced investors lost a lot of money on over-hyped stocks such as QualComm and many other upstart Internet companies One of the main problems with the downshift of the stock market
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