Internet Investors Should Give Thanks
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With Thanksgiving only a day away, now seems like an appropriate time to review who should be thankful in 1999.
It's a long list, for whatever the recent ups and downs in the market, Internet stocks as a whole have enjoyed tremendous success so far this year.
Even taking into account Tuesday's sell-off, internet.com's Internet Stock Index is up 144.5% this year. While that's lagging behind 1998's 187.1% gain, keep in mind that 'Net stocks had already had great momentum as 1999 began.
Obviously among the most thankful are investors who were holding Go2Net (GNET) stock when the ball dropped in Times Square nearly 11 months ago. In a year when business-to-business e-commerce and infrastructure plays have been king, this provider of branded Web sites has turned in a spectacular ticker performance.
On just about any given day this year, Go2Net has held the biggest annual percentage gain among all 'Net stocks, but through Tuesday that distinction belonged to e-commerce software company BroadVision (BVSN).
Shares of BVSN closed at 109 5/8, nearly 10 times its Dec. 31 close of 10 21/32. That's a 927.5% increase, currently the best of all Internet stocks.
A few months ago BroadVision investors may have had doubts about their fortunes. Share price didn't crack $20 until late June, and as recently as Aug. 31 the stock was only at 33 3/16. Since then BVSN has more than tripled.
Here are the biggest gainers from Dec. 31 through Tuesday. Investors who have stuck with these picks all year should take time to enjoy their good fortune on Thanksgiving. Have a happy holiday.
|WPNE||White Pine Software||525.2%|
|CHKP||Check Point Software||172.9%|
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