October 14th, 2008
Fueling the fervor was President Clinton's remarks yesterday that he favored not taxing commerce on the Internet. That helped push shares of Amazon (NASDAQ:AMZN), ONSALE (NASDAQ:ONSL) and N2K (NASDAQ:NTKI).
ISDEX & Market Moves
Snapshot
|
|
27-Feb-98 |
% change |
point change |
|
ISDEX Geometric Average |
134.76 |
2.67% |
3.50 |
|
ISDEX Price Weighted Composite |
1,040.31 |
2.51% |
25.44 |
|
NASDAQ |
1,770.51 |
-0.37% |
-6.60 |
|
DJIA |
8,545.72 |
0.65% |
55.05 |
CMG Info (NASDAQ:CMGI) gets a favorable mention in the Wall Street Journal sending its shares up today nearly 11% to $47.875 per share. More than a year ago we said CMG represented a way for investors to play a basket of Internet investments in one go since CMG owns pieces of Lycos (NASDAQ:LCOS) and more than a dozen private Web startups including GeoCities. To us CMG has always been a public venture capital firm with Internet focus. Why it's still dubbed a 'direct marketing' company (which it once mainly was) by some media we don't know since that isn't what's driving the stock in our view.
In the one-upmanship world of Web advertising Netmaster Group/ZULU-tek, Inc. (OTC BB:NETZ) which owns a controlling interest in SOFTBANK Interactive Marketing, and runs a Web-based ad network, reports its 1997 revenue at $39 million. ZULU highlights that this exceeded DoubleClick (NASDAQ:DCLK) revenue by 22%. Why? DCLK just went public at $17 per share February 20 and closed February 27 at $31.94. Meanwhile, NETZ remains a penny stock with little awareness on Wall Street.
PSINet (NASDAQ:PSIX), reports the completion of its fiber deal for 10,000 equivalent route miles of OC-48 fiber from IXC Internet Services, Inc., a subsidiary of IXC Communications (NASDAQ:IIXC. The agreement called for PSIX to issue about 10.3 million common shares to IXC. The faster pipe could jumpstart PSINet into investor's eyes again after its laggard status the past year.
OC-48 fiber moves data at 2.4 billion bits per second, or about 50 times faster than average Internet backbones.
Steve Harmon invites you to meet the movers & shakers of
venture capital live in Los Angeles at Spring Internet World's Business Forum, Capital
Connections session, Thursday, March 12. Where deals,
dollars and decisions come together. click
here and SIGN UP NOW, space limited!
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