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A changed Nasdaq climbs back to 5,000

The index itself had been transformed by innovation and competition to hit its previous peak 15 years ago

Published Fri, Mar 6, 2015 · 09:50 PM
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New York

THAT the Nasdaq composite index closed over 5,000 this week for the first time in 15 years is not just a reminder of the virtues of patience. It's even more a testament to the transformative power of capitalism.

The Nasdaq composite that peaked at 5,048.62 on March 10, 2000, in what turned out to be the height of the technology bubble, bears little resemblance to today's Nasdaq index.

Of the top 20 Nasdaq companies by market capitalisation in 2000, only four - Mic…

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