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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (93830)	4/18/2000 1:13:00 AM
From: Jenna	Read Replies (2) of 120523

from The New York Times: ...on GNET.. In Seattle, John Keister, the president and co-founder of Go2Net, a network of Web sites, said he thought last week's sell-off would be "very healthy for the Internet industry." Go2Net was hardly unscathed in the Nasdaq's tumble. Its shares plunged from $97 on March 27 to $47.875 on Friday, erasing more than $1.6 billion from its market valuation. But Keister said he believed his company would be able to handle a coming shakeout among Web sites, because unlike many young Internet companies, Go2Net is actually profitable on an operating basis. And Monday its stock bounced back to $55.25. "A year ago, people were saying to us, 'Why did you turn a profit so early, why aren't you spending money like it's going out of style?"' Keister said. "But I think it's important to have a strong business model." Keister was less optimistic about the future of his money-losing competitors. "Not everyone should be a winner here," he said. "A lot of companies were, and still are, overvalued."

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