Word: nasdaq
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Dates: during 2000-2009
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...missed it, here's what happened: Webvan's stock was trading at a mere eight cents, or 99% off its November 1999 peak. Since the NASDAQ habitually delists stocks that slip below a dollar, there seemed little chance this e-tailer would stay in the big boys' league. Then some bright (or desperate) spark at company HQ in Foster City came up with the idea of a 25 to 1 reverse stock split. In other words, for every 25 shares you owned before the split, you'd now only own one. The resulting drought should leave Webvan standing $2 tall...
...which means the Fed's medicine - this cut, and the last five - is going to work more slowly than usual. And it hasn't worked so far, either - the Dow and the NASDAQ, after six months of cuts, are below what they were when Greenspan started this regime, owing mostly to a complete lack of a pulse in either corporate profits or capital spending. Big Al, staring at the chasm of time between and now and next spring, might have considered it pointless to throw an extra 25 points into the abyss - 25 points that might force him to start...
...tech stocks seemed like a no-brainer when the bubble was inflating. Who knew we should have been blaming our brokers all along? Lawyers working on contingency fees, that's who, and they are eager to help recoup the $3 trillion that investors have lost since the NASDAQ tanked last spring. For retirees who fried their nest eggs or boomers who blew their kids' college tuition on margin, the road to restitution could be as easy as dialing 877-CAN-I-SUE (where you'll reach some New York City lawyers...
...help sift through all the Internet rubble. During the past five months, new claims were up 27% over the same period last year. Securities attorney Jim Shapiro has landed 70 "slam-dunk" cases since running newspaper ads in March that asked, "Have you lost more than $100,000 in NASDAQ stocks?" His argument is simple: even if customers clamored for more tech, their brokers had a responsibility to apply the brakes...
...measures of adulthood is accomplishment. The 23-year-old singer's first album, last year's Never Never Land, has sold more than 60,000 copies, a number which might not seem special to Janet Jackson, but to a jazz artist has the same sweet sound that "NASDAQ up 100 points" has for a day trader. Last week her brand-new CD, Come Dream with Me (N-Coded Music), hit the No. 1 spot on the Billboard jazz chart immediately upon its release. She has a jazz drummer fiance, her parents love and support her, and her career is backed...