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John Malone says there's a misguided 'land rush' in stocks right now akin to late '90s bubble
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cnbc.comLiberty Media Chairman John Malone said the sizzling IPO market and soaring equity valuations remind him of the dotcom bubble in the late 1990s.
«There's no question that the equity markets right now are so interested in growth above all other criteria and this is, like, the bubble in the late '90s… through 2000,» Malone said in an interview with CNBC's David Faber. «It's all about growth. This is a land rush right now. Profitability to be determined later.»
It's been a blockbuster year for U.S. public-market listings, which just surpassed an unprecedented $1 trillion marker, a record that more than doubles 2020 levels. Amid the IPO boom, many money-losing startups are able to score sky-high market capitalizations that some believe are
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