It was a half-day on Wall Street, but Internet stocks showed no signs of
slowing down. internet.com’s ISDEX surged 10.83 to 735.06, the Nasdaq
composite gained 27.31 to 3447.81, and the Dow Jones Industrial Average lost
19.26 to 10988.91.
As the official holiday shopping season began, Internet investors were
shopping for etailers. Shopping portal,
Amazon.com Inc. (AMZN)
, added 5-7/8 to 93-1/8.
eToys (ETYS)
gained 2-1/4 to 66-5/8. Shares are still recovering from a recent spurt of
insider selling. The online toy seller will generate 75 percent of its
revenue during the current fourth quarter.
Ashford.com (ASFD) ,
surged ahead 10-3/4 to 24-7/8 following positive comments from Goldman
Sach’s Internet analyst, Anthony Noto. Noto placed a ‘trading buy’ rating on
the luxury item etailer, citing strong momentum in the fourth quarter.
The open-source favorite among investors, Red
Hat Inc. (RHAT)
continued barreling ahead on Friday. Shares of the online linux software
distributor rocketed 44-9/16 to 213-1/2.
Not a lot of news on coming out on this slow Friday but plenty of momentum
within the etail sector. Investors are betting on an e-Christmas. Enjoy your
weekend.