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Internet Market Close Report for 1998.02.20

Steve Harmon
By Steve Harmon

ISDEX & Market Moves
Snapshot


































 
20-Feb-98
% change
point change

ISDEX Geometric Average
123.94
-0.02%
-0.03

ISDEX Price Weighted Composite
964.81
0.43%
4.09

NASDAQ
1,728.13
0.06%
1.12

DJIA
8,413.94
0.46%
38.36

  • DoubleClick (NASDAQ:DCLK) goes public at $17 per share and surges more than 70% before backing off and closing up more than 50% on its first day of trading at $26.75 per share. Shares price above range with more shares offered, 3.5 million. The $60 million proceeds should help this Web-ad pioneer push forward. DCLK originally sought to sell 2.3 million shares at $13.

  • USinternetworking Inc. (USi) withdrew its unsolicited $10 per share bid for PSINet (NASDAQ:PSIX). USi is run by former DIGEX head Christopher McCleary. We think McCleary will try and find another ISP to acquire.


    Steve Harmon invites you to meet the movers & shakers of
    venture capital live     in Los Angeles at Spring Internet World’s Business Forum, Capital
    Connections     session, Thursday, March 12. Where deals,
    dollars and decisions come together. click
    here and SIGN UP NOW    , space limited!

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