Business
If you thought 2020’s tech share rally was impressive, hold on for 2021!
With ASX technology shares joining their US counterparts to trade at or near all-time highs, you might think the biggest share price gains are behind them.
If you own shares in 2020’s top two S&P/ASX 200 Index (ASX: XJO) gainers – yes, we’re looking at you Afterpay Ltd (ASX: APT) and Kogan.com Ltd (ASX: KGN) – you may even be tempted to sell them. And if you’ve been sitting on the sidelines waiting for tech shares to retrace from their record highs before buying, you may find yourself waiting for quite some time yet.
According to Nick Maggiulli, the COO at Ritholtz Wealth Management, shares trading at or near record highs is actually quite bullish. Maggiulli says (quoted by the Australian Financial Review):
The data…
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