PetroChina Reminds One of the Tech Bubble Burst
posted on: November 06, 2007
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News accounts have Petrochina (PTR) now having a $1 trillion market cap. I am not sure if that is accurate given the selloff in the Hong Shares and the ADRs but is it the end of the road?
My immediate reaction to this news, and I have seen the same elsewhere, was to think of Cisco when it was the largest company in the world with a $500 billion cap for about ten minutes in 2000.
I don't know if it is the end of the road or not but it does seem to be similar to the tech story.
Before anyone gets on me saying the fundamentals of China yada yada, the "fundamentals" of tech were just as compelling back then.
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