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Up 41 Percent Exodus Parts IPODEX Waters

Don't tell the bearded ladies investment club but while the Dow, NASDAQ, S&P and other indices may find 5% gains in a week if they're lucky, Internet.com's IPODEX ran up 11% blended results the past week with the leading riser Exodus (NASDAQ:EXDS) up 41%.

All but five of the 17 stocks in this basket ended on the positive side.

INTERNET.COM'S

Ticker

Share price

Share price

% change

% change

% change

% change

IPODEX

symbol

12/10/98

12/3/98

period

from IPO

high

low

Exodus

EXDS

$50.75

$36.00

41.0%

238.3%

-4.2%

227.4%

Broadcast.com

BCST

$73.75

$52.88

39.5%

309.7%

-6.6%

125.2%

ISS Group

ISSX

$41.88

$31.38

33.5%

90.3%

-26.0%

146.3%

Verisign

VRSN

$50.00

$38.69

29.2%

257.1%

-14.0%

158.1%

Digital River

DRIV

$22.75

$18.13

25.5%

167.6%

-28.9%

355.0%

GeoCities

GCTY

$36.50

$29.38

24.3%

114.7%

-29.0%

175.5%

24/7 Media

TFSM

$26.25

$22.00

19.3%

87.5%

-36.4%

425.0%

theglobe.com

TGLO

$34.06

$28.88

18.0%

278.5%

-64.9%

6.2%

CDnow

CDNW

$17.81

$15.50

14.9%

11.3%

-54.6%

154.5%

Beyond.com

BYND

$26.06

$22.75

14.6%

189.6%

-18.6%

321.2%

Broadcom

BRCM

$101.00

$91.88

9.9%

320.8%

-15.8%

114.9%

EarthWeb

EWBX

$40.13

$37.25

7.7%

186.6%

-52.8%

29.4%

DoubleClick

DCLK

$34.38

$33.63

2.2%

102.2%

-55.4%

154.6%

eBay

EBAY

$186.13

$187.00

-0.5%

934.0%

-20.5%

637.1%

Inktomi

INKT

$116.50

$124.00

-6.0%

547.2%

-26.5%

278.9%

Netgravity

NETG

$16.56

$17.75

-6.7%

84.0%

-49.0%

142.4%

Cyberian Outpost

COOL

$22.75

$25.13

-9.5%

26.4%

-50.0%

283.2%

TOTAL

897.25

812.19

10.5%

244.4%

-30.6%

186.3%

AVERAGE

52.78

47.78

10.5%

244.4%

-30.6%

186.3%

(c) 1998 internet.com LLC - isdex.com; this table may be shared for non-commercial use, unedited! media, for analyst comments about Internet IPOs, email Steve Harmon

Exodus, the Web hosting provider, got two big touts from different sellside analysts (or stock salespersons) who said "buy" and raised price targets.

The independently formulated analysis we do--the kind not tied to taking companies public or trying to gain favors for mergers and acquisitions fees like the investment banks do--always believed that outsourcing bandwidth looks like a very attractive market and model to us and a trend that could get extremely large.

No sense parking your Web sputterings on an old Sparc workstation near the water cooler when gigahits (yes "hits") can sit right on the backbone somewhere.

Digital River (NASDAQ:DRIV) was up 25% on the week and announced today (Dec. 10) the completion of its 3 million share follow-on at $23.50 per share. Some may see that and walk but others will see that and see what we do: DRIV is now cashed up again with its second dipping in the pool following its September IPO at $8.50 per share. The one-two punch, IPO then follow-on.

The new IPO math is this--get it out the door at ANY price and if the market rises sell into that rising market with a follow-on. DRIV raises $40 million this time at bat, just three months after IPO. Onsale (NASDAQ:ONSL) did a similar thing when it went last year. Came at $6 and sold into a rising market a follow-on.

That's the sort of financing that Healtheon (which withdrew its IPO entirely as the market was weak a few months back) also could have done, a one-two punch. Capital is fleeting.

Consider that theglobe.com (NASDAQ:TGLO), which withdrew its IPO plans in October about the same time Healtheon did but recommitted and actually did IPO in November into one of the best one-day IPO runs of all time.

Here's a point worth pondering, too: TGLO went public the absolute last day it could have before its SEC registration papers would have expired. Talk about squeezing through the window.

Latest IPO to debut and perform well in the aftermarket is XOOM.com (NASDAQ:XMCM), which we'll include in the IPODEX next week after it has a few days to trade. And Infospace is set to debut so look for that one also.

On a final note, we hear eBay (NASDAQ:EBAY) booted some of its users off the auction site who were critical of its slowdown in service. Auction it is--democracy it's not.


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