March 27, 2000. That was the previous all-time intraday trading high for Cisco stock until this morning. If you held on for 6,501 trading days, congratulations you are finally above water again. OK, well with dividends you are comfortably ahead, but just on headline price after 26 years $CSCO has attained an all-time intraday high.
What all happened in-between? Oh, just 9/11, wars in Afghanistan and Iraq, hurricane Katrina, the Bali tsunami (don’t remember that? It claimed 230,000 lives), the great financial recession, first black US president, Fukushima Nuclear disaster, storming of the US Capitol, global COVID-19 pandemic, land war in Europe (Russia vs Ukraine), Facebook, iPod, Youtube, iPhone, Netflix (streaming), cloned animals, generative AI. And of course the dot-com bust that started it all, and happened with the largest company by market cap (CSCO) reaching $82 per share.
As for me, I was 29 years old – not even 30 yet. Our first child Austin was only 2 years old, probably just finishing up potty training. We had just moved into our home we had custom built in Moore, OK – 213 N Olde Bridge Road. I was so mad at myself for letting the builder put the house too close to the road.
What happened to Cisco stock post March 27, 2000? Well, it was pretty quick on the way down:
- 70.75 on March 30, 2000 ( 10%+ lower, 3 trading days later)
- 55.06 on April 14, 2000 (30%+ lower, 14 trading days)
- 50.00 flat on May 22, 2000 (40% lower, 40 trading days)
- 32.63 on Jan 2, 2001 (60% down, 160 trading days)
- 15.00 flat on March 19, 2021 (80% lower, 1 year later)
- 11.04 on September 27, 2001 (85% lower, 1.5 years later)
- 8.12 on October 8, 2002 (90% wiped out, 2.5 years later)
So from $82 to $8. That October 2002 price was the all time low, during the GFC the price was in the high teens.