Internet stocks weaken as the market starts to seek middle ground, between the Dow and ISDEX, with NASDAQ being the logical vehicle today as it maintains most of its value albeit with a slight drop vs. the others. ISDEX value is 490.33 with a change of-14.87(-2.94%).
- StarMedia pops another 75% today to $45.50 per share. Yesterday it priced 7 million shares at $15 and closed at $26 1/16, up 74%. A strong showing vs. an overall weaker IPO market. I think STRM could get more attention as time goes on and investors look for international Web growth.
- InfoSpace.com (NASDAQ:INSP) jumps 16% to $44 7/8 per share on the news that 700 Web sites will use its ActiveShopper shopping engine.
- Prodigy (NASDAQ:PRGY) finds some room to run after agreeing to acquire the dial up Internet subscribers from Cable & Wireless. The deal is valued between $50 million and $75 million cash. The deal could provide clues to Prodigy’s direction. I believe the reborn ISP must consider acquisition to be competitive in the market vs. Earthlink and Mindspring.
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