Australian Net Companies Witness Slump in Stock Value
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Many Australian Net companies who have recently listed on the Australian Stock Exchange (ASX), are currently experiencing a slump in stock value due to what some industry experts are saying is market saturation.
Online media group LibertyOne, which debuted at AUS$2 on December 14 last year, saw its stock value drop to AUS$0.92 at the close of trading yesterday. Travel.com.au stocks had dropped slightly from AUD$1.25 at issue to AUD$1.21. In comparison, at the close of first day trading, travel.com.au stocks reached AUD$2.94.
The much published float of Spike Networks saw shares listed at AUD$1.45 yesterday however, this value had dropped to AUD$0.84 cents.
The recent slump is believed to be the reason behind some listing plans being put on hold.