Internet stocks take beating

Internet stocks on US markets took a beating yesterday, with Infoseek down 24.6 percent and Excite down more than 22 percent.

Infoseek dropped 14.87 to close at US$45.62 and Excite dropped 30.87 to a still very high $108.50.

Others on the downward spiral today were: Cnet, which dropped 28.3 percent to $86; Onsale fell 21.2 percent to $23.87; ETrade Group fell 20.2 percent to $73.81; Lycos dropped nearly 18 percent to $75.75; America Online fell 17 percent to $115.87; Inc. was down 16.3 percent to $158.93; Yahoo was down 13.5 percent to $163.68; and Preview Travel was down 10.6 percent to $20.50.

Computer-related stocks didn't see such deep downward swings. For instance, Apple Computer was down 4.4 percent to $33.87, Dell Computer and Gateway 2000 were both down 7.3 percent to $35.43 and $59.50 respectively, while Hewlett-Packard was up 1.4 percent to $71.37.

On the software side, Intuit was down 17.4 percent to $78.93 and Macromedia was down 14 percent to $36.31. Going up, relatively, were Inprise jumping 12.3 percent to $3.68 and Corel rising 3.9 percent to $3.31 after announcing its purchase of GraphicCorp.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

More about Amazon.comAmerica OnlineApple ComputerCNET NetworksCorelDell ComputerETRADE AustraliaGatewayHewlett-Packard AustraliaInfoseekInpriseIntuitLycosMacromediaOnsaleYahoo

Show Comments