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
Meteor lights are the most innovative solar LED lighting product. Available in two shapes: round or square. In five standard colors: red, green, blue, amber and white. Since no wiring is required, they are simple to incorporate into any new or existing design.
more »
The US financial crisis and global ripple effects, including the EU and Lithuania, have been among major issues discussed between Prime Minister Gediminas Kirkilas and EU Commissioner responsible for Economic and Monetary Affairs Joaquin Almunia in their meeting earlier.
more »
Statistics Lithuania informs that real earnings in the whole economy, individual enterprise included, in 2007 compared to 2006 increased by 17 per cent, in the public sector – by 13 per cent, in the private sector – by 19.9 per cent.
more »
thinkAlchemy and Green Pixel, LLC have launched a green marketing initiative: MillionDollarGreenPixel.com where environmentally conscious companies can buy advertising space in various pixel sizes and advertise their websites to conscientious consumers.
more »
LG Electronics (LGE), a global leader and technology innovator in consumer electronics, unveiled its latest products at IFA 2008 in Berlin from August 29 to September 3.
more »
Wincor Nixdorf International GmbH announced termination of its relations with Inpas Company concerning supply of equipment, solutions, and also service and software support for products of Wincor Nixdorf in the territory of the Russian Federation. The above decision comes into force on 31.12.2008.
more »
According to final data presented by the Ministry of Finance, national budget revenue of the 1st half-year of the current year amounted to LTL 11 billion 161.8 million, and that was by 1.1 % over the target.
more »
Retail Banking Research Ltd. has published the latest edition of its biennial global ATM survey, “Global ATM Market and Forecasts,” which this year makes predictions out to 2013.
more »
Woking, United Kingdom, Friday 7th March 2008: Vodafone McLaren Mercedes is delighted to announce Olympus as the team’s official supplier of photographic services.
more »
The Link Interchange Network Ltd. says around 2,000 new free-to-use ATMs were installed in the United Kingdom in 2007, with more than 400 of those being located in low-income areas.
more »