Amid The Turbulence, Hopeful Signs
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The Fall Internet World Trade Show is wrapping up this week in New York, and it has been a depressing experience. Attendance is down, and the general mood runs from subdued to dispirited to desperate, depending on your funding situation. There's a hangover feeling, which seems appropriate as this sobering year for 'Net investors staggers toward its finish.
Ironically, at the exact same time that an aura of gloom was enveloping the show, Internet stocks turned in their strongest performance in months, with 12 of sectors gaining this week. The bottom barely hinted at last week may finally be here. Indeed, the tremendous volatility seen even within one day's trading during the past week is another sign, since a market turnaround usually is a messy affair.
Be wary, however, for much of the upward thrust in some of this week's highest gaining sectors - yes, I mean Advertising/Marketing and E-tailers in particular - comes from stocks bouncing their way toward new lows. And when you bounce, sometimes you go up. Because of my Internet World schedule, my comments below are brief. But as usual, all the numbers are here.
*Market Cap figure is in millions unless otherwise noted.
PERFORMANCE BY SECTOR Ave. 7-Day % Change Security +15.6% Advertising/Marketing +13.0% E-tailers +12.1% Search/Portals +9.3% Financial Services +9.0% E-commerce Enablers +8.2% ISPs/Access Providers +8.0% Wireless +7.4% Performance Software +5.1% Internet Services +4.7% Consultants/Designers +3.9% Speed/Bandwidth +4.9% Content/Communities -2.5% TOP 10 GAINERS 7-Day % Gain Category EFTD FTD.COM 104.0% E-tailers PCOR pcOrder.com 100.0% E-Commerce Enablers TLCT Telocity 80.0% ISPs/Access Providers COVD Covad 78.1% Speed/Bandwidth SNOW Snowball.com 72.2% Content/Communities HSAC High Speed Access 68.8% Speed/Bandwidth BFRE Be Free 68.1% Advertising/Marketing WGRD WatchGuard 61.7% Security KOREA Korea Thrunet 58.3% ISPs/Access Providers KANA Kana 58.2% Internet Services TOP 10 LOSERS 7-Day % Loss Category MRCH marchFIRST -59.4% Consultants/Designers CYLK Cylink -40.1% Security WBVN Webvan Group -36.0% E-tailers AVSR Avistar -29.9% Performance Software USIX USinternetworking -28.6% Internet Services AVCI Avici Systems -28.1% Speed/Bandwidth TUTS Tut Systems -27.5% Speed/Bandwidth NEOF Neoforma.com -27.4% E-Commerce Enablers WAVO WAVO -26.7% Performance Software OTGS OTG Software -25.7% Performance Software ******************************************************************** WIRELESS PRODUCTS/SERVICES 10/25 7-Day 7-Day 1-Month YTD Market Company $Close $Change %Change %Change Cap AETH Aether Systems 100.63 22.69 29.1% -38.0% 24.6% 3.9B INSP InfoSpace 20.31 3.81 23.1% -50.1% -62.1% 5.9B GWRX Geoworks 4.97 0.84 20.5% -52.7% -68.3% 107.6 WFII Wireless Facil. 60.75 10.25 20.3% -24.7% 35.1% 2.6B PHCM Phone.com 98.31 14.63 17.5% 1.1% -11.7% 8.1B MCOM Metricom 19.31 2.81 17.0% -45.5% -75.8% 593.2 GOAM GoAmerica 9.81 1.31 15.4% 6.7% N/A 504.2 IWAV interWAVE 5.56 0.69 14.1% -49