The carnage continued for Internet stocks on Tuesday as investors pushed
tech-related indices and issues to their lowest levels in months.
the plunge again were business-to-business (B2B) e-commerce stocks; the
sector leader, Internet Capital Group is now trading 73 percent off its
52-week high of $212.
internet.com’s Internet Stock Index fell 46.90, or 5.49 percent, to 806.81,
the NASDAQ composite dropped 132.30 to 4,055.90, and the Dow Jones
industrial average gained 11,287.08.
In other B2B e-commerce action, Onvia.com
announced today that the Detroit Regional Chamber of Commerce, the Florida
Chamber of Commerce, and the Greater Seattle Chamber of Commerce have all
selected Onvia to provide an online e-marketplace solution for their
respective members. Shares lost 1-9/16 to 13-15/16 despite the positive
A number of sector leaders took it on the chin, Broadcom Corp. (BRCM)
was down 17-7/8 to 176-5/8 , Doubleclick Inc. (DCLK)
was off 4-15/16 to 76-9/16, Exodus
lost 14-3/16 to 112-1/4, Inktomi Corp.
finished 26-3/16 lower at 135-1/16, and RealNetworks Inc. (RNWK)
stumbled 4-5/8 to 40-1/8.
Priceline.com Inc. (PCLN)
was down 7-13/16 to 65-1/16 and Travelocity (TVLY)
was off 2-1/4 to 27-1/2. Late Monday the two companies announced a marketing
alliance. The two companies plan to integrate their ticketing services on
both Web sites.
Opus360 Corp. (OPUS)
was down 3-13/16, or 31 percent, to 8-1/2. The Wall Street
Journalreported Tuesday the SEC is considering an enforcement action
against the B2B Internet company.
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