Bought a 100,000 shares of l90 (lnty) today at 2.75-2.80 b/c I'm told they have the best technology for Internet advertising.
Have you noticed these banner ads are getting better every day?
Last Update: 1:18 AM ET May 7, 2001
CHICAGO (CBS.MW) - There were surprising signs of life in some online ad companies last week as big dogs and also-rans alike got some decent percentage jumps in share prices.
Seemingly going against widespread pessimism over the future of Internet advertising, DoubleClick (DCLK: news, msgs, alerts) settled at $13.30 on Friday, up 39 cents on the session and nearly a dollar above its Monday close.
Other players in the much put-upon sector also pulled off gains. Engage (ENGA: news, msgs, alerts) managed to climb to $1.25 by the end of the week. That was up from just 76 cents at the Monday close and the first time the company has managed single digits for almost two months. L90 (LNTY: news, msgs, alerts) also bounced, rising to $2.91 from $2.35 on Monday afternoon.
Although DoubleClick had an upbeat meeting with analysts in New York Tuesday, ABN AMRO's David Doft doesn't see any specific news coming out of the sector that would account for the across-the-board pop - in fact quite the opposite.
"The fundamentals haven't supported it but the market is anticipating some sort of improvement," he said. "I am not seeing any signs of a pick-up but the view seems to be that the worst is over."
DoubleClick in particular, he said, "is definitely benefiting from the fact that people view them a survivor."
Then again, "you never know much of this is short-covering." |
