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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TraderAlan who wrote (6252)1/2/2000 4:16:00 PM
From: TraderAlan  Read Replies (1) of 18137
 
Here's a quick little epilogue on the Y2K stocks that were the hot acts a few years back. Sadly, I'm sure some true believers held them right to the end:

"Given the current Internet mania, it's appropriate now to examine one of the hottest stock groups of 1997: Year 2000 plays.

Companies such as Viasoft, Data Dimensions, Zitel, and Computer Horizons had huge run-ups in 1997 as investors bet that these outfits would cash in on the billions spent by Corporate America to fix the Year 2000 computer glitch.

But virtually all these companies have been busts, as revenues and profits failed to materialize as predicted. Viasoft, which peaked at 61, now trades at 5 3/4 . Data Dimensions has fallen to 2 1/2 from 40. Zitel is down to 2 3/8 from 46 and Computer Horizons has declined to 16 from 52. The experience of the Year 2000 plays could portend the fate of Internet stocks that fail to meet lofty Street expectations."

Alan
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