This was just in the USA Today paper regarding internet stocks. Looking at this, WKWG sounds like a great company to get into. Tomstocks, check this out, I think you will find this interesting.
11/24/98- Updated 10:06 AM ET
The Nation's Homepage
Net stocks break rules
Like rebellious teen-agers, Internet stocks continued to defy traditional values Monday, soaring to new highs.
Well-known Internet firms such as Yahoo! and Amazon.com jumped past $200 a share. Amazon rose 21%, bringing its 1998 gain to 624%. Yahoo! rose 16%; for 1998, it's up 540%.
Contributing to Monday's rise in Internet stocks:
Industry consolidation. America Online and Netscape gained on news of their merger talks. With more consolidation expected, investors snapped up Internet stocks in hopes of cashing in on the next deal, says Dan Leonard, manager of the Invesco Strategic Technology Fund.
Day traders. Helped by Internet brokers such as Datek and E*Trade, individuals can now buy and sell stocks online and pay super-low commissions. These active traders have played a key role in pushing up prices of Internet companies, says Roger McNamee of Integral Partners.
Internet shopping. Many investors are betting that a robust holiday shopping season, combined with the growing popularity of online shopping, will pay off for companies such as Amazon, which sells books online, and Yahoo!, which can help guide online shoppers.
Dazzling projections of Internet growth. Many investors say the Internet will be the fastest-growing sector of the economy the next decade. So they've abandoned traditional methods of valuing stocks, such as price-earnings ratios.
At some investment firms, executives have put their youngest analysts in charge of Internet stocks, McNamee says. "None of the folks who have been around for very long can stand to own them or buy them" because the valuations are so high, he explains.
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