SHARE
Facebook X Pinterest WhatsApp

Digital Downloads Spark Investor Interest

Jul 9, 1999

Music download site Liquid Audio went public Friday and investors interested in the new music distribution system sent its stock soaring, while indices were mixed at midday.

internet.com’s Internet Stock Index slipped 4.02 at midday to 565.11, the Nasdaq Composite was down 2.72 to 2769.14 and the Dow Jones industrial average rose 21.21 to 11148.1.

Lehman Brothers priced music download site Liquid Audio (LQID) at $15 early Friday, above its $10-$12 estimate. The company’s shares took off just before midday, reaching $48 before falling to 39 1/8, up 160 percent. Intel has an 18 percent stake in the multimedia site.

Digital download hype didn’t help fellow music site CDNOW (CDNW) as of midday, despite news of its alliance with Microsoft and Atlantic Records to offer downloadable music. Its stock slipped 7/16 to 19 3/8.


Introducing Internet StockTracker, the new weekly e-mail newsletter from
internet.com LLC. Every Friday internet.com will deliver to your e-mail
in-box the latest performance data on individual Internet companies and
their competitors. Internet StockTracker will deliver to you all the
statistics you need to assess the week’s activity.
Subscribe today and receive the Charter Rate of $127 — a savings of
$100 off the regular subscription price!
e-newsletters

Recommended for you...

U.S. Needs to Protect Tech Leadership: Qualcomm
Rob Enderle
Apr 8, 2022
HP’s ExtendXR Service Gets an Early Lead on a Looming Metaverse Problem
Rob Enderle
Mar 5, 2022
Cisco’s Purpose Is to Improve the World. Imagine if Others Followed.
Rob Enderle
Dec 17, 2021
HP Builds an Advanced Cloud Workstation for the Metaverse
Rob Enderle
Nov 13, 2021
Internet News Logo

InternetNews is a source of industry news and intelligence for IT professionals from all branches of the technology world. InternetNews focuses on helping professionals grow their knowledge base and authority in their field with the top news and trends in Software, IT Management, Networking & Communications, and Small Business.

Property of TechnologyAdvice. © 2025 TechnologyAdvice. All Rights Reserved

Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.