And Then There Was One
Last month was a big one for initial public offerings - if you were interested in biotechs, that is. 'Net investors, in contrast, were treated to a real October surprise: Just one Internet IPO.
Fiber-optic Internet network provider Asia Global Crossing debuted on the street Oct. 6, finishing the day at $7.38 per share, just 5% above its offer price of $7 for 53 million shares.
Otherwise, that was it.
And this after a mini-flurry of Internet IPOs in late September, which seemed to indicate increased activity as the fall got under way. Instead, there since has been next-to-no action, and there may not be any going forward until the market demonstrates it has found a bottom.
But as every Internet investor knows only too well, this year isn't last year.
Here are the numbers for Internet IPOs through October:
Month | This year | 1999 |
January | 5 | 4 |
February | 27 | 11 |
March | 27 | 13 |
April | 13 | 17 |
May | 6 | 26 |
June | 11 | 32 |
July | 13 | 35 |
August | 12 | 26 |
September | 7 | 26 |
October | 1 | 21 |
Total | 122 | 211 |
Average First-Day Return (By Month)
Month | This Year | 1999 |
January | 160% | 241% |
February | 126% | 122% |
March | 99% | 134% |
April | 31% | 116% |
May | 38% | 59% |
June | 41% | 116% |
July | 63% | 74% |
August | 14% | 45% |
September | 57% | 72% |
October | 5% | 112% |
10 Best Internet Debuts of 2000
Company | IPO Date | Gain |
webMethods | Feb. 11 | 508% |
Crayfish | March 8 | 414% |
Selectica | March 10 | 371% |
FirePond | Feb. 4 | 356% |
Neoforma.com | Jan. 24 | 303% |
Extensity | Jan. 27 | 256% |
ArrowPoint | March 31 | 248% |
Storage Networks | June 30 | 234% |
GigaMedia | Feb. 17 | 226% |
net.Genesis | Feb. 29 | 216% |
10 Worst Internet Debuts of 2000
Company | IPO Date | Loss |
iAsiaWorks | Aug. 3 | -27% |
INTERLAND | July 25 | -26% |
ARTISTdirect | March 28 | -22% |
Avistar Communications | Aug. 17 | -22% |
AsiaContent.com | April 12 | -21% |
coolsavings.com | May 19 | -21% |
ScreamingMedia | Aug. 3 | -13% |
PartsBase.com | March 22 | -12% |
ImproveNet | March 16 | -12% |