Stop the bleeding


— 5:13 AM on March 12, 2001

ZDNet is running a story on the tech crash we've seen in the last months.

Ultimately, they say, the late 1990s Internet bubble will go down as a period of temporary insanity--an international giddiness no different from the Dutch tulip craze of the 17th century, when gullible investors paid $300 for a single bulb. And those who profited from the Internet bubble may largely be remembered as deft con artists or lucky fools.

[snip]

According to the preliminary results of a survey conducted in November by iQuantic, 50 percent of the option grants at 85 percent of companies are worthless because the stocks are trading below below their strike price--typically the closing share price on the day the options were issued. With the Nasdaq in a free fall, most options granted since last year are deeply underwater.

With the Nasdaq hovering just above 2000, one has to wonder just where the bottom is.
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