Measure For Measure: Internet.com's IPO Index Up 43%
INTERNET.COM'S |
Ticker |
Share price |
Share price |
% change |
% change |
IPO INDEX |
symbol |
9/10/98 |
9/1/98 |
week |
from IPO |
Inktomi |
INKT |
$62.88 |
$51.38 |
22% |
249% |
24/7 Media |
TFSM |
$10.50 |
$9.13 |
15% |
-25% |
Broadcom |
BRCM |
$66.50 |
$59.81 |
11% |
177% |
GeoCities |
GCTY |
$23.75 |
$21.38 |
11% |
40% |
Broadcast.com |
BCST |
$38.75 |
$35.25 |
10% |
115% |
ISS Group |
ISSX |
$28.56 |
$27.25 |
5% |
30% |
WavePhore |
WAVO |
$5.50 |
$5.31 |
4% |
-41% |
Netgravity |
NETG |
$9.44 |
$9.44 |
0% |
5% |
Digital River |
DRIV |
$6.06 |
$6.25 |
-3% |
-29% |
CDnow |
CDNW |
$8.00 |
$9.00 |
-11% |
-50% |
Cyberian Outpost |
COOL |
$7.88 |
$9.38 |
-16% |
-56% |
Exodus |
EXDS |
$20.88 |
$26.75 |
-22% |
39% |
TOTAL |
288.69 |
270.31 |
|||
AVERAGE |
24.06 |
22.53 |
7% |
43% |
|
| (c) 1998 Mecklermedia (NASDAQ:MECK) - Internet.com | |||||
The three leaders in gains each have what we believe a differentiating story that gets Wall Street's attention (hard to do especially after a major correction).
Inktomi (NASDAQ:INKT) leads all runs from IPO price with a 249% rise. Fueling that are the key deals it keeps making to sell its cache server, which speeds up Net access. Latest believer, AOL, picked up the technology for its network September 9.
Broadcom (NASDAQ:BRCM) broadband chip set has an effective lock on the emerging fat pipe environment. Most of the cable companies and telcos doing broadband in one flavor or another use Broadcom's chips for set-top and other hardware devices.
Broadcast.com (NASDAQ:BCST), while down 48% from its euphoric best IPO-ever status achieved July 17, has been aggressive in signing content exclusives for sports and other events to stream over the Internet. While we expect extreme volatility with BCST as the herky-jerky audio-video over the Internet of today, BCST through September 10 was still up from IPO price 115%.
But is an Internet IPO by any other name an Internet IPO in the same vein? Take for example the beyond-cool results for Cyberian Outpost (NASDAQ:COOL), with a ticker symbol and name sounding cold at this juncture, down 56% from IPO price. E-tail stocks have taken a beating as the fear of shopping agents and commoditization of sales may emerge and subjugate Web store fronts.
CDnow (NASDAQ:CDNW), which played its marketing hand in last night's MTV video awards, is also down considerably from its IPO price, 50% off. The battle between bots and brands is on.
On the search-shopper emerging bot-side, there's Amazon's (NASDAQ:AMZN) Junglee (which it paid 1.6 million AMZN shares for August 4, valued at $127.4 million as of September 10). Coming on the heels of that is Inktomi's (NASDAQ:INKT) 1.8 million share purchase of C2B, another shopping search engine. That pending deal had a $113 million value on INKT's close yesterday.
FinanceTips
by Steve Harmon 1 of
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