Internet Stocks Continue Tumble

Shares of Internet companies were falling again in mid-day trading Monday as fears of rising interest rates continue to drive investors from the sector.

internet.com’s Internet Stock Index was off 37.29, or 6.77 percent, to 513.50, the Nasdaq Composite had fallen 60.04 to 2,460.10 and the Dow Jones industrial average had shed 84.65 to 10,744.63.

Amazon.com Inc. (AMZN) was off 8-9/16 to 120. Airline titan Richard Branson is reportedly launching his own Internet book site that England’s Guardian newspaper said will have a larger selection than Amazon.

Most of the other Internet issues were down as well. America Online Inc. (AOL) was off 5-15/16 to 120-1/2, Yahoo! Inc. (YHOO) had dropped 10-13/16 to 140-1/2 and @Home Networks (ATHM) had tanked 13 to 117.

Online ad company DoubleClick (DCLK) was off 9-5/8 to 97-7/8. The company Monday announced a new program which allows electronic commerce players to better target specific demographic segments.

Concentric Network Corp. (CNCX) had plunged 6 to 31. A Silicon Valley newspaper ranked the company 19th in a list of 1998’s fastest-growing Valley companies.


ALL NEW! internet.com’s HotWatch a monthly e-mail subscription for $99,
featuring Internet Stock Report’s Steve Harmon, and his top 10 noteworthy
Internet stocks for the month. Each month you will receive in-depth
analysis on the top 10 Internet stocks to watch with the information you need to assess
the fast-paced nature of Internet stocks. Staying on top of market changes in the
Internet Stock market is what counts. For $99 per year, you receive 12 timely
issues sent to you by e-mail. Don’t wait, our next issue will be out before
you know it with a whole new perspective on the market.
Sign up today at: e-newsletters

Get the Free Newsletter!

Subscribe to our newsletter.

Subscribe to Daily Tech Insider for top news, trends & analysis

News Around the Web