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Internet Market Close Report for 1998.08.14

Steve Harmon
By Steve Harmon



























 
14-Aug-98
point change
% change

ISDEX
132.03
0.00
0.00%

NASDAQ
1,790.19
-12.35
-0.69%

DJIA
8,425.00
-34.50
-0.41%


  • 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.





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