ALL........."NEW YORK (CBS.MW) -- Online day traders were largely responsible
for Friday's big spike in Internet stocks, The Wall Street Journal reported
Thursday. The Journal said the Internet stock boom has been boosted by a
frenzy of activity in online chat rooms and bulletin boards that cater to
online investors. The Journal said the Nasdaq is looking into the heightened
volatility of many stocks, including Internet-related companies, such as
OnSale Inc. (ONSL), Books-A-Million Inc. (BAMM) and Connect Inc.
(CNKT), which shot higher on Friday. Most of the trades in the high-flying
stocks have been in small lots, indicating individual investors are buying and
selling the shares, not institutional investors. In addition, much of the
volume has been coming through online brokers like E*Trade, SureTrade
and DLJdirect, the Journal said. (The Wall Street Journal) ".............!...T |
