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Internet Market Close Report for 1998.09.25

Steve Harmon
By Steve Harmon



























 
25-Sep-98
point change
% change

ISDEX
110.44
0.46
0.42%

NASDAQ
1,743.59
23.25
1.35%

DJIA
8,028.77
26.78
0.33%

Moves and news:

  • PSINet (NASDAQ:PSIX) gets a “buy” rating from BancBoston Robertson Stephens with a 12-month price target of $25. BBRS sees positive EBITDA by mid 1999 and mentions PSIX in the same breath as former indy UUNET, now long part of WorldCom-MCI. We believe PSIX may hold some upside but encourage investors to read the latest issue (Sept) of BoardWatch magazine (info at boardwatch.com) which rates ISPs according to several criteria to see an overall view of which ISP is best.

  • WavePhore (NASDAQ:WAVO) rating changes from “sell” to “hold” by Friedman Billings. Positive signs are emerging, in our opinion also. We received word from WavePhore that it just hired a former Microsoft strategist as its new general manager and exec VP.

  • BarnesandNoble.com and Prodigy (yes, the old online service turned ISP firm) both filed for IPOs. Coincidentally on the heels of ebay’s (NASDAQ:EBAY) strong rocketship debut yesterday. Will the two fare well? Of course the market ultimately decides but for comps look at Amazon.com for BandN (but not as sexy, cool) and look at Earthlink (NASDAQ:ELNK) and Mindspring (NASDAQ:MSPG) as peers for Prodigy, which is now all access. More on these two next week, and the others in the IPO pipeline. For a glance at how Internet IPOs have done in 1998 please see Internet.com’s IPO Index, every Friday right here in Internet Stock Report. Tell a friend.



    Inside scoops! Internet Investment Symposium ’98 @ Fall Internet World!

    New York City, Oct. 8-9 as Steve Harmon, Upside, CNNfn, PriceWaterhouseCoopers, and more talk 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! Sign up now


    LaunchPad Pavilion, part of Fall Internet World ’98, the world’s largest Internet industry trade show held Oct 5 – 9, offers exhibit space for startups ONLY at a reduced price in order to meet their often limited capital available at the startup stage. It is Mecklermedia’s way of letting the newbies get their voice heard. If you or a friend is at a Internet startup and want to exhibit at Fall Internet World (expected attendance is more than 50,000) in New York City’s Javits Center then contact Reed Bocchino 203-341-2826 or email: mailto:rbocchino@mecklermedia.com

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