Holiday Shopping Season Begins
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It was a half-day on Wall Street, but Internet stocks showed no signs of slowing down. internet.com's ISDEX surged 10.83 to 735.06, the Nasdaq composite gained 27.31 to 3447.81, and the Dow Jones Industrial Average lost 19.26 to 10988.91.
eToys (ETYS) gained 2-1/4 to 66-5/8. Shares are still recovering from a recent spurt of insider selling. The online toy seller will generate 75 percent of its revenue during the current fourth quarter.
Ashford.com (ASFD) , surged ahead 10-3/4 to 24-7/8 following positive comments from Goldman Sach's Internet analyst, Anthony Noto. Noto placed a 'trading buy' rating on the luxury item etailer, citing strong momentum in the fourth quarter.
Not a lot of news on coming out on this slow Friday but plenty of momentum within the etail sector. Investors are betting on an e-Christmas. Enjoy your weekend.