And Then There Was One
Page 1 of 2
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:
Average First-Day Return (By Month)
10 Best Internet Debuts of 2000
|Storage Networks||June 30||234%|
10 Worst Internet Debuts of 2000
|Avistar Communications||Aug. 17||-22%|