Is Polaroid Coming for Today's Stock Market?
Market concentration in the AI Boom is even worse than in the Nifty Fifty era.
It didn’t end well.
Source: MGM/Moviepix/Getty
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It has been more than 50 years since the high-flying Polaroid Corp. fell back to earth during the collapse of the famed Nifty Fifty bubble. At its peak, Polaroid controlled nearly two-thirds of the instant-camera market and traded at earnings multiples exceeding 90x. Other Nifties enjoyed similarly extreme multiples, beyond anything in today’s AI-driven rally.