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RealTime IT News

Some Big Gainers, Losers in 2000

It's been a shaky week for Internet stocks, with more sectors losing ground than gaining, according to numbers from internet.com's Internet StockTracker e-mail newsletter due out Friday.

However, despite nagging fears of interest rate hikes and bursting bubbles, Internet stocks as a whole have been up so far this year, with internet.com's Internet Stock Index of 50 companies up 12% since Dec. 31 and nearly 19% in February.

Among the biggest gainers have been Cavion Technologies (CAVN), up 152%; Terra Networks (TRRA), up 143%; and WatchGuard Technologies (WGRD), up 134%.

Cavion, a provider of B2B Internet services for credit unions (there's a niche!), surged on strong Q4 earnings announced two weeks ago, while WatchGuard benefited (along with a number of other security companies) from the hacker attacks on major Web sites. Terra is seen as the strongest access provider in the Spanish market.

A number of companies began 2000 with a bang, only to see their stock prices quickly roll downhill. Venture fund company Internet Capital Group (ICGE) is down 30% since Dec. 31, and 40% since Jan. 3, when it spiked $30 to close at $200 per share. (I'll take a closer look at ICGE in Friday's StockTracker Daily after the company issues its Q4 report.)

Natural-language online search service Ask Jeeves (ASKJ), which enjoyed a love affair with investors last fall, gained 22% to close at $138 per share in its first day of trading this year. ASKJ closed Wednesday at 63 5/16, leaving the stock down 44% for the year and 54% since Jan. 3. Even at its current price, Ask Jeeves is valued at 76x last year's revenues.

Some of the high-flying e-commerce software stocks have come crashing down in 2000. Computer equipment B2B player pcOrder.com (PCOR) was down 46% for the year through Wednesday, while Rowe.com (ROWE), which sells software that allows libraries to order books and periodicals, has dropped 51%.

Expect several more stocks from this overvalued B2B e-commerce sector to come down in the next few months.


Subscribe to Internet StockTracker, a weekly e-mail newsletter from internet.com Corp. Every Friday internet.com will deliver to your e-mail in-box the latest performance data on individual Internet companies and their competitors. Internet StockTracker will deliver to you all the statistics you need to assess the week's activity. Subscribe today at e-newsletters



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