Internet Market Close Report for 1998.08.14



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  • 24/7 (NASDAQ:TFSM) goes public today, prices 3.25 million shares at $14, opens at $18.50, hits a $22.75 high and closes at $20.25. The IPO signals the continued strength and interest in Internet offerings in the ecommerce space. Rival DoubleClick (NASDAQ:DCLK) shares lose 3% to $43 per share today. For our analysis of 24/7 please click here

  • E*TRADE (NASDAQ:EGRP) holds more than 11% of the fast-growing Web stock trading arena, making it second to Schwab according to Piper Jaffray. Both E*TRADE and Schwab, however, lost some marketshare, 1% and 2% respectively, as privately-held Datek, Ameritrade (NASDAQW:AMTD), Fidelity and Waterhouse make aggressive moves. Some 22% of all retail trades were done on the Web in the first half of this year.

    Internet Startup Live! Venture Showcase


    The Internet investment world’s mountaintop, got a startup
    Internet business you want to scream with?

    Internet Investment Symposium ’98 @ Fall Internet World!

    Book now! New York City, Oct. 8-9 as Steve Harmon talks investments with some of the top names in the industry…top execs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, debuts hot startups at Startup Live!, and debates top stocks with the leading Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!”

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