Are we standing on the edge of yet another tech stock bubble? Last year I snapped up shares in Allied Minds, recently listed on the UK market but specialising in US university spin-outs.
Sadly, I did not have the great fortune to get in at the initial IPO price of around 190p, but I have still managed to double my money in just a few short months as the share price storms ahead to 557p. And what is true for Allied Minds is more broadly true for the US tech sector. The Nasdaq index has soared over the 5,000 barrier. Sadly, we all know what happened last time the Nasdaq hit that level – it fell a mighty 59% before settling at a low in October 2002. A wave of IPOs is one driver for this huge boom. A recent report by Ed Maguire at CLSA observed that “technology is having ...
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