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ISDEX Adds iVillage to Internet Stock Index

Steve Harmon
By Steve Harmon

ISDEX adds iVillage (NASDAQ:IVIL) effective immediately to replace Netscape, which merged with AOL (NYSE:AOL). In addition, a 2-for-1 stock split by Network Solutions (NASDAQ:NSOL) is effective today. The urge to merge drove up ISDEX the first quarter of 1998 but the IPO market has taken center stage for the time being. Today’s snapshot:

  • MiningCo (NASDAQ:MINE) debuts today with its initial public offering, prices at $25, opens at $52, hits a $62.25 high and closes at $47.50 per share on 7.7 million volume.

    The strength of MINE is it uses real people to filter the best of the Web. The drawback is that real people can only rate so many Web sites givn the time limits of 24/7. Contrast that to spiders which index whole Web sites in seconds or minutes. I see MiningCo’s value being its focus on mining out deals on the Web and more value-added content and commerce, if it goes that way. Either way I see the top 25 Web sites consolidating in some fashion.

  • AOL (NYSE:AOL) may slash 1,000 jobs at Netscape and AOL as the two companies now are officially merged. The biggest spot on AOL’s spin list to me is the Netscape software unit. This unit fits more with Sun or IBM than AOL I believe. AOL needs programmers but not enterprise class server solutions. AOL’s trend has been to sell technology assets.
  • Outpost.com (NASDAQ:COOL) brings some good news for the etailer: it has added 10,000 new affiliates through a partnership with GeoCities (NASDAQ:GCTY) in the past 4 weeks. Total affiliates (sites that sell COOL’s products) now surpasses 25,000.



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