Internet stocks finished the week on a high note as investors once again were in a buying mood — especially when it came to initial public offerings.
internet.com’s Internet Stock Index was up 12.04, or 2.61 percent, to
473.87, the Nasdaq Composite was up 26.64 to 2,648.07 and the Dow Jones
industrial average had jumped 122.84 to 11,086.68.
The IPO of MyPoints.com (MYPT)
rose 3 to 11. Although, the stock was as high as 18-5/8. The company
develops online direct marketing technology. The company issued 5 million
shares and the lead underwriter was BancBoston Robertson Stephens.
Internet stocks got a boost from the Net analyst, Keith Benjamin, at
BancBoston Robertson Stephens. Among the stocks Benjamin expects to lead
the Internet recovery are America Online
which had slumped 7/8 to 95-1/8, Yahoo!
, up 5-13/16 to 145 and Lycos Inc.
, gaining 2-7/16 to 44-1/8.
Several other famous names benefitted from the positive comments,
including Broadvision Corp. (BVSN)
, climbing 3-13/16 to 95-3/4, eBay
, up 9-1/4 to 123 and Inktomi
up 4-15/16 to 113-1/2.
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