Blue Nile Gets Dot Com Stock Enthusiasm Bump

from the they're-baaaaaack dept

While had to delay their highly anticipated dot com IPO due to some questions about them being a bit too noisy during the quiet period, it looks like Blue Nile (the online jewelry store) is acting as our latest proxy for dot com IPO enthusiasm… and it’s reminiscent of the boom years. While not quite as crazy as some of the ridiculous offerings, the stock went public last night and began trading this morning where it quickly received a 35% bump. Whether you think this is healthy or not (and, you could very easily claim that Blue Nile just left an awful lot of money on the table), it certainly indicates that there are those out there thirsting for dot com stocks to flip. I would imagine that will have a similar jump – and those two events combined with the impending Google IPO (whether or not that’s a good thing) is going to lead to an awful lot of irrational investing again. No matter how much people claim to have “learned” from the last bubble, it’s amazing how quickly a little greed erases their memory.

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