TOKYO -- While stock indexes are hitting historic highs around the world, company share prices are exhibiting an increasingly K-shaped divergence.
Nikkei analyzed the price-to-book ratio of companies around the world and learned that the gap between stocks that have been bought and those that have been sold has opened to a level not seen since the dot-com bubble in the late 1990s. The coronavirus pandemic has caused investors to become more selective and concentrate their money on a handful of stocks with growth potential.
