Investors looking for the next big thing seem to be throwing some caution to the wind and buying into that sentiment, rather than doing due diligence.
Example: Verticalnet (NASDQ:VERT) soars 32% to $96.25 per share on a “buy” tout from Hambrecht & Quist. But I would caution that while stocks such as VERT, in particular, have a great mission statement–to address various industries with custom Web sites and info–I would like to see more cash on its cash flow statement before supporting its current valuation. Today’s snapshot:
10-Mar-99 |
point change |
% change |
|
ISDEX |
488.24 |
14.54 |
3.07% |
NASDAQ |
2,406.01 |
13.07 |
0.55% |
DJIA |
9,772.84 |
79.11 |
0.82% |