Internet Market Close Report for 1999.02.19 | Internet News

Internet Market Close Report for 1999.02.19

Written By
Steve Harmon
Steve Harmon
Feb 20, 1999
1 minute read

ISDEX starts to find some born-again believers in the Internet stock
sector with select brand or market leaders rising today. A few Internet
IPOs also get attention, but we suspect it’s more "first day
frenzy" than long-term (see today’s ISR for IPO market analysis).
The broad market itself played revival tunes of its own with the Dow and
NASDAQ squeezing out small gains. Today’s snapshot:





 
19-Feb-99


point change


% change




ISDEX


7.23


2.61%




NASDAQ
23.05



1.02%




DJIA 41.32

0.44%



  • Vignette (NASDAQ:VIGN) goes public today and soars 125% to $42.69 per share, as scores of speculators and traders poured into shares of the software maker. Vignette develops software for customizing Web sites. VIGN posted $16 million revenue in 1998, driven by its high-priced and popular software packages for corporate Web sites. CNET shares also get a pop since the firm owns 9% of VIGN.
  • Open Text (NASDAQ:OTEX) changes its ticker symbol from OTEXF.
  • Intranet software maker Webtrends (NASDAQ:WEBT) gains 108% on its IPO today to close at $27.06. The maker of Web site traffic analysis software had $8 million sales in 1998 with a $219,000 profit. Although profitable, we think Webtrends must grow its marketshare and revenue streams in order to sustain the exuberance.

    Harmon’s HotWatch ’99 – the hottest analysis about Internet stocks delivered to your email box each month! Last year’s 10 to watch from Steve Harmon was up 300%. Will 1999 be a repeat? More info click here

  • 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.

    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.