Australian Net Companies Witness Slump in Stock Value

Many Australian Net companies who have recently listed on the Australian Stock Exchange (ASX), are currently experiencing a slump in stock value due to what some industry experts are saying is market saturation.

Online media group LibertyOne, which debuted at AUS$2 on December 14 last year, saw its stock value drop to AUS$0.92 at the close of trading yesterday. stocks had dropped slightly from AUD$1.25 at issue to AUD$1.21. In comparison, at the close of first day trading, stocks reached AUD$2.94.

The much published float of Spike Networks saw shares listed at AUD$1.45 yesterday however, this value had dropped to AUD$0.84 cents.

The recent slump is believed to be the reason behind some listing plans being put on hold.

On the other side of the coin however, one of the strongest stocks to date, has been Ecorp. It issued at AUD$1.20 in July this year, and has since increased to AUD$1.99. Strong growth has also been witnessed by Sausage Software, which debuted at AUD$0.75 in October 1996 and yesterday was listed as AUD$2.47.

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