From Briefing.com...INTERNET DUDS: Underwriting firms are finding themselves in a very unusual position-- begging investors to take in shares of their recent Internet deals. Not only have the majority of these offerings failed to measure up to the Internet IPO standard set by the likes of broadcast.com (BCST), VeriSign (VRSN) and Inktomi Corp (INKT), but they have been one of the worst performing groups of the entire market. Where there is misery, there is usually opportunity. Over the past two years, one thing that we've learned about Internet IPO's that struggled early is that, in the majority of the cases, they not only come back, but they fly. It should be noted, however, that these stocks' ability to recover is probably more a function of the momentum investing environment created by the prolonged bull market. So if you are of the opinion that the bull still has legs, beaten-down Internet IPOs may be a good place to scavenge in search of long-term value. The following table lists the recent Internet initial public offerings which were initiated coverage today by various firms. (For specific ratings see the Upgrades/Downgrades page. In terms of valuation, shares of electronic commerce security services concern Pilot Network Services Inc. (PILT) and electronic commerce solutions/software company Digital River Inc. (DRIV) are the two names that standout.
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