At its height, it was not unusual for a dot.com stock price to triple or even quadruple in value on the first day of a public offering. Companies gave no projections—if they had, their value could have been quantified, which would have meant their stock prices would have plummeted. Yet, the spin-doctors continued to spin, and eventually everyone got so dizzy that the market collapsed. The commercial real estate market, which rented space to the dot.com companies, followed suit and fell as well.
The views expressed here are those of the author and not of Real Estate Media or its publications.Frank Gunsberg is senior vice president of GVA Williams New Jersey, Parsippany. He can be reached at fgunsberg@gvawilliams.com.
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