I disagree, the Nasdaq is based on technology stocks, and especially the similarities with he dotcom bubble in 2000 is striking.
At that time it was a whole inflated technology sector to which the latter chart was applicable.
We may differ about opinion whether it is applicable to business or a multi decade nasdaq chart, however, the dominating factor explaining the latter chart is market sentiment based on human emotion/nature, and that does not change whether its general market sentiment or an individual stock.
You can also see the same pattern very clearly in the 2018 bitcoin/crypto crash.
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Last
4.9¢ |
Change
-0.032(39.5%) |
Mkt cap ! $72.79M | |||
| Open | High | Low | Value | Volume |
| 6.6¢ | 6.6¢ | 4.8¢ | $2.576M | 47.67M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 146575 | 4.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.0¢ | 827970 | 18 |
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| AGY (ASX) Chart |