They huffed and puffed and blew the house down but it rebounded back. Internet stocks that is. ISDEX gains back half the losses from yesterday as investors can’t seem to keep a good thing down.
Between Thursday of last week through Monday the correction was about 30% across the board making this a “true” correction in my book and not a pause.
The plethora of better-than-expected results and overall first-quarter numbers coming out today especially provides some positive news that lifts the Internet sector.
The snapshot:
For those new to the deal USA Networks wants to merge with Lycos and allocate 30% of the combined firm to Lycos.