Looking back at 1999, you can only marvel at the explosion of investor interest in Internet stocks and IPOs.
Published:
4 January 2000 y., Tuesday
The market supported an astonishing number of Internet plays, showing signs of strain only in the summer, when glut of new Net tickers flooded the street in the weeks after a strong spring correction.
Which is not surprising, if you believe (as I do) that the economic potential of the Internet is currently being undervalued in the market ...There were 258 Internet IPOs last year. Of those, 86, or exactly one-third, finished their first day of trading with gains of at least 100 percent over their respective offer prices. In contrast, only 28 companies (11 percent) ended their debut sessions below their respective offer prices.
With that kind of record, and with billions of dollars in venture funding priming the IPO pipeline with aspiring Internet stars, 2000 promises to be just as frenetic.
The year finished the way it began - consistently strong. The average first-day return for December Internet IPOs was 108 percent, only slightly off the average debut in October (112 percent) and November (118 percent). The two biggest gainers of the year - FreeMarkets and Cobalt Networks - came in Q4, while a look at the list of Top 10 first-day performers turns up a number of e-commerce and infrastructure companies, investor favorites in 1999.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has approved, under EC Treaty state aid rules, an Italian framework temporarily adapting certain existing risk-capital schemes to increase companies' financing possibilities during the current economic crisis.
more »
The European Commission has authorised, under EC Treaty state aid rules, a Maltese measure to help businesses to deal with the current economic crisis.
more »
We're making progress. That's the word from Treasury Secretary Tim Geithner about settling the financial markets.
more »
According to a new report released by NextGen Research, global markets for financial kiosks and enhanced ATMs will grow at a compound annual rate of 9 percent, to include more than 186,000 financial kiosks and nearly 2.5 million ATMs by 2013.
more »
Non-farming Latvians are buying pigs to beat the economic crisis.
more »
Is your money well spent at EU level? Every year, in April, the EP concludes its examination of EU spending for the financial year closed 16 months previously.
more »
In the construction sector, seasonally adjusted production1 decreased by 1.0% in the euro area2 (EA16) and by 2.1% in the EU272 in March 2009.
more »
Between 2000 and 2008, EU27 trade in goods with Russia more than tripled in value, with EU27 exports to Russia rising to 105 bn euro in 2008 from 23 bn in 2000.
more »
The European Commission has launched today a call for proposals covering key energy infrastructure projects such as energy interconnections, offshore wind energy and carbon capture and storage as part of the implementation of the EEPR.
more »
During its plenary session on 13 May 2009, the European Economic and Social Committee adopted a key opinion on responding to the crisis in the European automotive industry.
more »