Nasdaq hits 6,000 mark for the first time ever

The Nasdaq Composite Index in early Tuesday trading hit a milestone: 6,000.

The Nasdaq Composite traded at an intraday record of 6,012, up 0.5 percent, on Tuesday morning in New York.

“The Nasdaq has not seen a major new high, which is to say a breakthrough of a big round number, since way back in 2000,” Brad McMillan, chief investment officer at Commonwealth Financial Network, said back in February when the Nasdaq was flirting with those lofty levels.

Indeed, the last time the Nasdaq was somersaulting higher was in the late 1990s and early 2000s, during the notorious dot-com bubble. That period of buzzy tech companies with dubious business models, exemplified by Pets.com, didn’t end well for investors. In fact, Wall Street took 15 years to recover, with the index not returning to the 5,000 level again until March 2015.

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