Internet Market Close Report for 1998.04.02
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ISDEX & Market Moves Snapshot
|02-Apr-98||% change||point change|
|ISDEX Price Weighted Composite||1,623.88||2.85%||44.97|
There is so much moving and shaking going on with Internet stocks today that it's as if Jerry Lee Lewis collided with James Brown to produce a two-headed, altogether hybrid soul screamer. Of course we'd just call that ISDEX, Internet Stock Index. Part technology, part communications, our tally shows ISDEX, as the only truly representative stock index for Internet stocks, a show stopper. ISDEX is up more than 60% from the depths of January.
Just today Lycos pops 15% or $7.75 per share to a new record of $58.875 per share. That follows yesterday's equally impressive jump. We attribute this to pent up and now released recognition of Lycos' commerce deals (value = $30M) the past month. On a market cap basis LCOS is now second only to Yahoo (NASDAQ:YHOO) which continues to go where only helium has gone before. Ozone.
The other day we said Cyberguard (NASDAQ:CYBG) looked like a misplaced laggard and sure enough it climbs 18% to $11.50 today. Earthlink goes north on a tout from Everens that rates it a long term outperformer. Big news? No. We said ELNK was hot months ago when it was under $30 per share.