BUSINESS
08/09/2013 02:13 pm ET Updated Aug 12, 2013

Tech Bubble Death Watch: Priceline Stock Nears $1000, Topping Dot-Com Bubble High (CHART)

Maybe there's not a new tech bubble, but at least one tech stock is back to its tech-bubble glory days.

Priceline.com shares jumped to more than $980 on Friday, on the verge of making the online travel company the first stock ever in the Standard & Poor's 500-stock index to be worth $1000.

That alone is kind of an amazing statistic, considering how many different companies have been in the S&P 500 since it began in 1957. Especially since one of those companies is Google. Also, Apple.

The other amazing thing about this feat is that it nearly completes a wild round-trip for the stock that began right after its IPO in March 1999.

The stock finished trading on its first day at $497.26. In just a month, it soared to $974, adjusted for splits and dividends.

And then it crashed like the end of a six-day meth bender, plunging below $7 a share by December 2000.

But Priceline is BACK, BABY! (Story continues below chart of BACK-ness.)

priceline stock chart

So I am raising our Tech Bubble Death Watch Threat Level to 2, on a scale of 1 to 5, meaning the outlook for a new tech bubble that destroys all of our money is "guarded."

It is also worth pointing out that not only are the tech stocks getting a little expensive, but also maybe all of the stocks: Steven Russolillo, the Wall Street Journal MoneyBeat blogger (my old job), points out that the average price in the S&P 500 recently rose to $70.04, the highest on record.

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