16.6 C
New York
Tuesday, April 20, 2021

The best times to be a tech stock investor were 2008, 2009 and 2012

- Advertisement -
- Advertisement -

“Thank You for Bailing Me Out” is the best thing I ever wrote about a stock market crash. In October 2008, as the financial crisis wiped out the economic world, then-record tech market gains crushed tech stock prices, particularly those of financial software firm Intuit.

Intuit shares bottomed out at $6.60 on Sept. 19, 2009, after losing more than half their value from a year earlier, the real-time historical data at Yahoo Finance show. Intuit’s CEO Bill Campbell used the first week of October to thank investors who lent him money. “And of course the ever-present lawyers also gave me an enema,” he wrote in a memo to employees.

Shares have since recovered most of their lost value, to $155.93, making it one of the best-performing stocks of the last decade, according to price trends at Yahoo Finance.

Palo Alto Networks, another technology company, had a similar stock-price debacle in 2013. A slump in enterprise-software shares coincided with turmoil in the Syrian and Chinese stock markets, and contributed to fears that another worldwide recession was imminent. Over the course of three weeks, its stock fell from $79.60 to $51.92. Its stock, now at $103.05, has still not regained its pre-crisis level. CEO Mark McLaughlin was on the way to record earnings at the time, but the stock was being sold off.

In 2014, the financial services company Trade Desk saw its stock double and then triple. Its shares rose on the back of surging demand for video ads, the company’s bread and butter.

And for a while last year, every tech stock except one ended the year in the red. Losing the most ground was Netflix, which is still well below its 2012 peak. But Salesforce beat the field, rising from $56.30 in August 2015 to $100.05 in January 2017. Steve Guggenheimer, the company’s executive vice president of products, resigned in April 2016, citing “personal reasons.” However, he was later awarded hundreds of thousands of stock options to help settle an SEC probe into Salesforce’s options program.

- Advertisement -

Latest news

These Texans Showed How a Jury Got the Verdict It Wanted

An alleged gang-rape victim cries in the courtroom in Texas. The man charged with beating and raping her as an adult had been convicted...
- Advertisement -

At the sentencing of a Harlem ‘rapist,’ middle school students say they were targeted for racism

But the feelings of isolation felt by hundreds of young people in Harlem weren’t limited to mourners outside the courthouse. The sight of a...

Ohio Police Shoot, Kill 16-Year-Old Boy Holding ‘BB Gun’

COLUMBUS, Ohio — A teen who was holding what appeared to be a gun was fatally shot by a police officer early Thursday morning...

Joe Biden Says Jury’s Verdict ‘Unacceptable’ in R. Kelly Verdict

“The jury has spoken,” said the vice president, adding that the “serious damage” that conviction would do to “the vast majority of the jury...

Related news

These Texans Showed How a Jury Got the Verdict It Wanted

An alleged gang-rape victim cries in the courtroom in Texas. The man charged with beating and raping her as an adult had been convicted...

At the sentencing of a Harlem ‘rapist,’ middle school students say they were targeted for racism

But the feelings of isolation felt by hundreds of young people in Harlem weren’t limited to mourners outside the courthouse. The sight of a...

Ohio Police Shoot, Kill 16-Year-Old Boy Holding ‘BB Gun’

COLUMBUS, Ohio — A teen who was holding what appeared to be a gun was fatally shot by a police officer early Thursday morning...

Joe Biden Says Jury’s Verdict ‘Unacceptable’ in R. Kelly Verdict

“The jury has spoken,” said the vice president, adding that the “serious damage” that conviction would do to “the vast majority of the jury...
- Advertisement -