In one year’s time, iOmega stock skyrocketed more than 2,000 percent, driven by investors hyping the stock on online bulletin boards and in chat rooms. Unfortunately, the iOmega bubble soon burst, and the stock had plummeted 68.1 percent by May 22, 1997.
Actually what killed Iomega (acquired by EMC) was just partly a bubble but really due to technical glitches with the ZIP discs which were exponentially failing. Who would trust their data to an unreliable disc prone to failure???
But I’ve always said that Iomega truly was the first internet crazed stock and fueled the success of MF.