Nipped in the bud: Internet-related IPOs take tumble
Article Abstract:
Four Internet-related companies' initial public offerings fell significantly from their original offer prices on the small-capitalization, technology-heavy Nasdaq Stock Market. The companies are Internet florist 1-800-Flowers.com, Internet insurance company Quotesmith.com, online movie store BigStar Entertainment and Internet-communications services firm Splitrock Services Inc. 1-800-Flowers.com lost big as its stock price fell 13% to finish Aug. 3, 1999 at 18 and three-sixteenths on the Nasdaq. Internet stocks have become popular investments but they are some of the most volatile stocks on the market. Both the Nasdaq Composite Index and the Russell 2000 Index finished the day down 1.36% to 2587.99 and down 1.43% to 436.28, respectively.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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Amazon opens online mall of small stores
Article Abstract:
As if books, movies and music was not enough, Amazon.com has decided to open a full, online shopping mall called zShops. The excitement about this new and improved online mall has caused Amazon's stock to rise 23%. Apparently, Amazon is renting out space on their web site for $9.95 a month to retailers who are willing to dive into electronic commerce.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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Comment about this article or add new information about this topic:
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