Technology shares are holding back the Nasdaq indices at severely depressed levels, reports the National Post of Canada.

Nasdaq holds more than 25pc of London Stock Exchange shares and is widely thought to be planning a full-scale bid for the autumn.

“North American stock market indexes have largely recovered from the meltdown earlier this decade, but the Nasdaq-100 stands out as an exception. The Dow Jones industrial average is just 5.7% away from breaking a new high and the S&P/TSX composite index is already 2.1% above its 2000 peak. The tech-heavy Nasdaq, despite a few recent rallies, remains deep under water. It is 65% below its 2000 high and would have to rally about 200% to return to its dot-com heyday.”

But could this be an opportunity for risk-takers? If you like to buy low and aim to sell high, this may be your chance. “However, some investments are beaten up and unloved for good reasons — which is why, to many observers [these stocks], regardless of their apparent discount, should be given a wide berth.”

“You can find good stocks,” said Donald Coxe, global portfolio strategist at BMO Financial Group and chairman of Harris Investment Management. “But it’s like fishing. Sometimes you can find a fish in a part of the lake where there are almost no fish because you just happen to be cruising by. You’re better to fish in an area where there are lots of fish.”