Investors Buy Back Into Net Stocks | Internet News
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Investors Buy Back Into Net Stocks

Written By
Steve Harmon
Steve Harmon
Apr 24, 1999
2 minute read

internet.com’s ISDEX closes up 4% at 628.02 with a heavy dose of market leaders/brandshare buying across the 50-stock index.

The snapshot:

  • eBay (NASDAQ:EBAY) adds e-mail alerts for its trading customers that notify them when an item they seek becomes available. While I’m not a fan of eBay’s valuation (which seems a little frothy) I’ve always been a fan of its business model, which has some of the best gross margins anywhere on the Internet. Of all the companies in the universe I follow as a stock analyst the model here looks superior to every other way of doing business on the Web.
  • Network Associates (NASDAQ:NETA) climbs 14% to $12.625 per share on no news. NETA trades at just off its 52-week low following the recent announcement of a possible sales slowdown in second quarter. First quarter was in line with analyst estimates. Perhaps the biggest concern now to me is the slew of lawsuits Network Associates has over its accounting habits.
  • ONSALE (NASDAQ:ONSL) rises 14% to $27.375 per share as enthusiasm from the etail and auction space boils over to stocks overlooked. The irony is ONSALE was one of the first public Internet auction companies but uBID (NASDAQ:UBID) seems to be getting more attention from Wall Street. ONSL had 331% more revenue than UBID in 1998 but ONSL trades at 84% that of UBID on a market cap basis.

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