What type of speculative companies were central to the stock-market crash that ended the dot-com bubble?

Internet companies were central to the stock-market crash that ended the dot-com bubble.

The dot-com bubble grew during the late 1990s as investors poured money into businesses associated with the internet. Many companies had limited revenue, continuing losses, or untested business models, yet their share prices rose on expectations of future online growth.

The Nasdaq Composite, which contained many technology and internet stocks, reached a peak of 5,048.62 on March 10, 2000. It then declined sharply as investors reassessed valuations, interest rates rose, and several high-profile companies failed to meet expectations.

The crash did not mean that the internet itself was unsuccessful. Companies with durable technology, strong customer demand, and sustainable finances eventually became major businesses. The episode instead showed how genuine technological change can still be accompanied by excessive speculation and unrealistic pricing.