RealTime IT News

Internet Stocks Regain Half Losses

When the market moves in mysterious ways it's important to keep the spotlight on performance. Yesterday we highlighted the drop from top and today I back out for a weekly review of where ISDEX is now vs. then. Off 10.6% is the short answer.

Even after April 20's buying binge in a majority of the 50 stocks here and the sector at large the 10.6% weekly softening gives us context for two things: 1) how much risk investors are willing to be exposed to vs. April 15 and 2) individual stocks in the group that have lost the most since then.

The former drives some valuation while the latter provides a benchmark for how much expectation investors may be willing to allocate any one of these stocks again. Let's let the numbers show the shakeout:

ISDEX April 15 - April 20

ISDEX ®   20-Apr-99 % change Point change % change
The Internet Stock Index   close from from from
www.isdex.com     15-Apr-99 15-Apr-99 31-Dec-98
          or 1999 IPO
ISDEX   539.01 -10.6% -63.98 88.0%
NASDAQ   2,409.64 -4.4% -112.13 9.9%
DJIA   10,448.55 -0.1% -14.17 13.8%
           
@Home Network ATHM $132.75 -13% -$19.75 79%
24/7 Media TFSM $44.00 -12% -$5.81 57%
Amazon.Com AMZN $172.00 3% $4.75 61%
America Online AOL $128.69 -11% -$15.19 66%
Axent AXNT $8.94 -12% -$1.19 -71%
Beyond.com BYND $27.06 -15% -$4.94 30%
Broadcast.com BCST $121.50 -14% -$19.00 218%
Broadcom BRCM $64.38 -2% -$1.13 7%
Broadvision BVSN $49.00 -5% -$2.38 53%
CDnow CDNW $14.44 -9% -$1.50 -20%
CheckPoint Software CHKPF $34.13 6% $2.06 -26%
Cisco CSCO $101.56 -8% -$8.75 9%
CMG Info CMGI $206.00 -25% -$70.25 287%
CNET CNET $105.50 -17% -$21.63 310%
Concentric CNCX $73.13 -17% -$14.88 120%
CyberCash CYCH $17.81 -13% -$2.63 19%
Cyberian Outpost COOL $14.06 -15% -$2.44 -49%
Doubleclick DCLK $128.19 0% $0.31 476%
E*TRADE EGRP $89.81 -11% -$11.63 284%
Earthlink Network ELNK $65.25 -11% -$7.75 14%
eBay EBAY $162.50 -9% -$16.38 102%
Egghead.com EGGS $14.25 -9% -$1.38 -32%
Excite XCIT $129.50 -12% -$17.44 208%
Exodus EXDS $74.00 7% $4.75 130%
GeoCities GCTY $112.75 -12% -$15.25 235%
Go2Net GNET $148.13 -6% -$9.75 737%
Infoseek SEEK $50.56 -22% -$14.06 2%
Infospace.com INSP $115.00 -4% -$4.19 202%
Inktomi INKT $92.44 -24% -$28.44 43%
ISS Group ISSX $44.00 -15% -$8.00 -20%
iVillage IVIL $80.00 -24% -$24.88 233%
Lycos LCOS $73.88 -22% -$20.69 33%
Mindspring MSPG $86.25 -16% -$16.50 41%
Network Associates NETA $11.06 -27% -$4.19 -83%
Network Solutions NSOL $60.00 -36% -$33.50 -8%
Onsale ONSL $24.00 -32% -$11.06 -40%
Open Market OMKT $13.06 -13% -$1.94 12%
Preview Travel PTVL $20.75 2% $0.38 13%
Prodigy PRGY $29.06 -18% -$6.44 94%
PSINet PSIX $48.81 -11% -$5.88 134%
RealNetworks RNWK $181.06 1% $1.06 405%
Security Dynamics SDTI $17.63 7% $1.13 -23%
Security First Technologies SONE $101.13 -12% -$13.88 232%
Sportsline USA SPLN $43.63 -17% -$9.13 180%
USWeb USWB $25.38 -6% -$1.69 -4%
Verio VRIO $58.75 -10% -$6.25 163%
Verisign VRSN $112.50 -28% -$44.06 90%
VocalTec VOCLF $10.06 -7% -$0.81 -11%
Xoom.com XMCM $70.25 -14% -$11.75 113%
Yahoo! YHOO $171.00 -12% -$23.63 44%
(c) 1999 internet.com

Of the above that have taken a beating it's the ones that are off more than 20% the past week that some attention should perhaps be paid to. Some news behind the moves:

  • 99.04.20 - Lycos (NASDAQ:LCOS) for the first time ever beat Yahoo in number of unique monthly users according to online survey firm Media Metrix, 31.9 million in April vs. Yahoo's 31.3 million. That puts Lycos (through its Tripod, Angelfire, Wired Digital and Lycos search guide properties) at more than 50% Internet reach.

  • 99.04.19 - Too many Internet initial public offerings finding too few buyers. More than 100 Internet stock offers have or are scheduled to ooze through the IPO pipe--too many offers, too many ".coms." Investors pushed up new offers on zeal but the caffeine and enthusiasm had to wear off, it always does.

  • 99.04.18 - Amazon.com (NASDAQ:AMZN) finds believers in its embracing of the auction space, prompting DLJ to set a $280 per share target. I think the lineup of Web stocks is AOL (NYSE:AOL), Yahoo (NASDAQ:YHOO), Amazon (NASDAQ:AMZN). So you can see who Amazon needs to beat if all these converge in the same space soon. I believe Amazon needs traffic though, more users, a community site, to match its book, music and movie fans with their own home pages.

  • 99.04.16 - RealNetworks (NASDAQ:RNWK) agrees to acquire Xing for $75 million stock. Those asleep at the wheel pushed down RNWK shares over the last two trading sessions since the news despite Xing jumpstarting Real in the white-hot MP3 market with Xing's core compentency. Update: April 20 RNWK announces a 2-for-1 stock split which sends the stock soaring 41% tp $181.0625 per share.


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