Gst, I see Billys Akami, and Dclk made the list. With Yhoo and Amzn not far behind them!
Fd
As I posted here I've been buying Liberate this last several days because I think Msft will have to buy it.
Worst-Performing Stocks of 2000*
Stock YTD Return
CMGI (CMGI:Nasdaq) -96%
Akamai Technologies (AKAM:Nasdaq) -93.6%
Liberty Digital (DDIG:Nasdaq) -93.2%
Internap Network Services (INAP:Nasdaq) -91.6%
DoubleClick (DCLK:Nasdaq) -91.3%
Foundry Networks (FDRY:Nasdaq) -90.1%
Liberate Technologies (LBRT:Nasdaq) -89.4
Kana Communications (KANA:Nasdaq) -88.8%
Excite@Home (ATHM:Nasdaq) -87.1%
Novell (NOVL:Nasdaq) -86.9%
Source: Morningstar. *Minimum current market capitalization: $1 billion. Performance through Dec. 27.
CMGI, which gained infamy for its incubation of various Internet concerns, is attempting to adjust to a new world where Internet-related initial public offerings are poison, if they're even possible. In cutting loose a number of companies in its portfolio, CMGI also has to justify its existence by convincing investors it will continue to support the rest of its companies.
Also investment failures were the plays on the future of the broadband Internet, such as Akamai, Liberate Technologies (LBRT:Nasdaq - news) (down 89%) and Excite@Home (ATHM:Nasdaq - news) (down 87%). Meanwhile, DoubleClick (DCLK:Nasdaq - news) (down 91%) was hit by the slowdown in advertising on the Internet, with no clarity as to when that will be reversed. Unlike America Online (AOL:NYSE - news), which also makes money from Internet ads, it lacks the bank of subscribers who pay monthly for the privilege of access.
Meanwhile, Foundry Networks (FDRY:Nasdaq - news), which just last week warned of a shortfall in fourth-quarter profit and revenue, made the list by falling 90%. The announcement by Foundry, a maker of communications equipment, confirmed that the providers of data networking equipment, like providers of voice network equipment, are also susceptible to the looming spending slowdown. |
