Internet Market Close Report for 1998.04.16 | Internet News
IT Management
SHARE
Facebook X Pinterest WhatsApp

Internet Market Close Report for 1998.04.16

Written By
Steve Harmon
Steve Harmon
Apr 16, 1998
1 minute read

Market Close Snapshot


































 
16-Apr-98
% change
point change

ISDEX
179.16
4.98%
8.50

ISDEX Price Weighted Composite
1,833.25
4.50%
79.00

NASDAQ
1,858.24
-0.27%
-5.02

DJIA
9,076.57
-0.94%
-85.70

  • Infoseek (NASDAQ:SEEK) continues to be the story as 33 million shares traded hands today pushing the shares up another new high at $44.19 per share, 30% over yesterday’s new high, for a stock that’s already gone ballistic. Short-term we would caution over-eager investors that SEEK had quite a loss last year, the most losses in the search group, and that we don’t think it’s out of the woods yet.

  • CNET (NASDAQ:CNWK) shares took off perhaps as Wall Street listened in part to this morning’s Internet Stock Report that talked about content being the only uninvited guest in the recent run of Internet stocks. CNWK stock closes up about 30% at $36.

  • In the onslaught on interest in Internet stocks search software developer Inktomi filed to go public to raise about $35 million. Inktomi’s search technology is behind Wired’s HotBot and the soon to debut Microsoft Start. The Berkeley, CA-firm also makes software for caching content on the Web, a method that increases traffic speed. Between the two technologies it offers, combined with a stock market sending Internet shares soaring, guess what’ll happen to Inktomi? Tune in tomorrow’s Internet Stock Report for our in the numbers and on the money analysis.

    •
    Steve Harmon
    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.

    facebook
    x

    Company

    Contact us Advertise with us

    Categories

    News Enterprise Small Business Reviews Podcasts Blog Research

    Property of TechnologyAdvice. © 2026 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.

    Terms of Service Privacy Policy California - Do Not Sell My Information