by Frank Barnako and Darren Chervitz, CBS MarketWatch
Net stocks take another (blood)bath
NEW YORK (CBS.MW) -- For the third straight session, Internet
stocks took a bath Monday. Stocks were dunked across the board,
with shares of numerous Web companies losing more than 20 percent
of their value. Just take a look at how far some Net stocks have
fallen off of their 52-week highs, many of which were reached only
a month or so ago: Amazon.com, off 42 percent from high of 147
(reached on July 21); Egghead.com, off 79 percent from 29 1/8
(July 13); Preview Travel, off 63 percent from 44 (July 2),
Cyberian Outpost, off 66 percent from 26 (July 31);
Broadcast.com, off 49 percent from 74 (July 17); SportsLine, off
50 percent from 39 5/8 (April 16); Yahoo!, off 33 percent from 103
3/4 (July 7); Excite, off 61 percent from 55 1/2 (July 7); America
Online, off 42 percent from 140 1/2 (July 21); CNET, off 48
percent from 74 1/2 (July 24); RealNetworks, off 59 percent from
48 1/4 (July 21); DoubleClick, off 69 percent from 77 1/8 (July
2): Exodus Communications, off 46 percent from 53 (July 21); At
Home, off 50 percent from 57 1/4 (June 25); Concentric Networks,
off 61 percent from 41 (July 7); and CMG Information Services, off
58 percent from 91 3/4 (July 21).
Has anyone but me been tempted to short an internet stock?
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