Don’t
tell the bearded ladies investment club but while the Dow, NASDAQ, S&P and
other indices may find 5% gains in a week if they’re lucky, Internet.com’s
IPODEX ran up 11% blended results the past week with the leading riser
Exodus (NASDAQ:EXDS) up 41%.
All but five of the 17 stocks in this basket
ended on the positive side.
| INTERNET.COM’S | Ticker | Share price | Share price | % change | % change | % change | % change |
| IPODEX | symbol | 12/10/98 | 12/3/98 | period | from IPO | high | low |
Exodus | EXDS | $50.75 | $36.00 | 41.0% | 238.3% | -4.2% | 227.4% |
Broadcast.com | BCST | $73.75 | $52.88 | 39.5% | 309.7% | -6.6% | 125.2% |
ISS | ISSX | $41.88 | $31.38 | 33.5% | 90.3% | -26.0% | 146.3% |
Verisign | VRSN | $50.00 | $38.69 | 29.2% | 257.1% | -14.0% | 158.1% |
Digital | DRIV | $22.75 | $18.13 | 25.5% | 167.6% | -28.9% | 355.0% |
GeoCities | GCTY | $36.50 | $29.38 | 24.3% | 114.7% | -29.0% | 175.5% |
24/7 | TFSM | $26.25 | $22.00 | 19.3% | 87.5% | -36.4% | 425.0% |
theglobe.com | TGLO | $34.06 | $28.88 | 18.0% | 278.5% | -64.9% | 6.2% |
CDnow | CDNW | $17.81 | $15.50 | 14.9% | 11.3% | -54.6% | 154.5% |
Beyond.com | BYND | $26.06 | $22.75 | 14.6% | 189.6% | -18.6% | 321.2% |
Broadcom | BRCM | $101.00 | $91.88 | 9.9% | 320.8% | -15.8% | 114.9% |
EarthWeb | EWBX | $40.13 | $37.25 | 7.7% | 186.6% | -52.8% | 29.4% |
DoubleClick | DCLK | $34.38 | $33.63 | 2.2% | 102.2% | -55.4% | 154.6% |
eBay | EBAY | $186.13 | $187.00 | -0.5% | 934.0% | -20.5% | 637.1% |
Inktomi | INKT | $116.50 | $124.00 | -6.0% | 547.2% | -26.5% | 278.9% |
Netgravity | NETG | $16.56 | $17.75 | -6.7% | 84.0% | -49.0% | 142.4% |
Cyberian | COOL | $22.75 | $25.13 | -9.5% | 26.4% | -50.0% | 283.2% |
TOTAL | 897.25 | 812.19 | 10.5% | 244.4% | -30.6% | 186.3% | |
AVERAGE | 52.78 | 47.78 | 10.5% | 244.4% | -30.6% | 186.3% | |
| (c) 1998 internet.com LLC – isdex.com; this table may be shared for non-commercial use, unedited! media, for analyst comments about Internet IPOs, email Steve Harmon | |||||||
Exodus, the Web hosting provider, got two big touts from different
sellside analysts (or stock salespersons) who said “buy” and raised price
targets.
The independently formulated analysis we do–the kind not tied
to taking companies public or trying to gain favors for mergers and
acquisitions fees like the investment banks do–always believed that
outsourcing bandwidth looks like a very attractive market and model to us
and a trend that could get extremely large.
No sense parking your Web
sputterings on an old Sparc workstation near the water cooler when gigahits
(yes “hits”) can sit right on the backbone somewhere.
Digital River
(NASDAQ:DRIV) was up 25% on the week and announced today (Dec. 10) the
completion of its 3 million share follow-on at $23.50 per share. Some may
see that and walk but others will see that and see what we do: DRIV is now
cashed up again with its second dipping in the pool following its September
IPO at $8.50 per share. The one-two punch, IPO then follow-on.
The new
IPO math is this–get it out the door at ANY price and if the market rises
sell into that rising market with a follow-on. DRIV raises $40 million this
time at bat, just three months after IPO. Onsale (NASDAQ:ONSL) did a
similar thing when it went last year. Came at $6 and sold into a rising
market a follow-on.
That’s the sort of financing that Healtheon (which
withdrew its IPO entirely as the market was weak a few months back) also
could have done, a one-two punch. Capital is fleeting.
Consider that
theglobe.com (NASDAQ:TGLO), which withdrew its IPO plans in October about
the same time Healtheon did but recommitted and actually did IPO in November
into one of the best one-day IPO runs of all time.
Here’s a point worth
pondering, too: TGLO went public the absolute last day it could have before
its SEC registration papers would have expired. Talk about squeezing
through the window.
Latest IPO to debut and perform well in the
aftermarket is XOOM.com (NASDAQ:XMCM), which we’ll include in the IPODEX
next week after it has a few days to trade. And Infospace is set to debut
so look for that one also.
On a final note, we hear eBay (NASDAQ:EBAY)
booted some of its users off the auction site who were critical of its slowdown in service. Auction it is–democracy it’s not.
Survey of the day: how did you hear about Internet Stock
Report?
click and let us know
now
