"What will kill INTERNET MANIA..."
INTERNET STOCK MANIA, BABY!!"... Sorry. Just kidding. The stocks were down a bit today. (Skymall, Monday's story, continued upward though, up $5 to $40 3/4.) People don't understand this thing. What will kill INTERNET MANIA won't be disappointments or bad business, because these companies are going to keep growing like crazy. What will kill it is supply and demand. In other words, demand is high because there aren't enough shares of Internet companies to go around. But every day more and more of these companies go public, have stock splits, etc., and slowly there will be enough and demand will fall. For example, Inktomi split its stock two for one. By the way, look for an IPO from a company called Jesus2000.com ("the virtual pilgrim to the Holy Land"). I'm serious.
MARKET CAPS"... So everyone's all freaky-deaky about the fact that Charles Schwab now has a bigger market cap than Merrill Lynch. To that I say, so what?! Have you ever hung out at Merrill Lynch? Seen the koffee klatch? Seen the overhead? How about Schwab? Seen the buzz? Feel the growth? Looking for more fly dope? Check these gems out from my buddy J. Evans at CNN: "Amazon.com is worth more than Sears ($16.8 billion market value versus $15.8 billion market value), Ebay is worth almost as much as Alcoa ($11.9 billion versus $12.7 billion), Yahoo is worth the same as Dow Chemical (both are $24.4 billion companies). And AOL ($53.5 billion) is worth more than Merrill Lynch, Delta, Kmart, U.S. Steel, and Aetna combined! ($53.5 billion versus $25.2 billion + $7.2 billion + $6.9 billion + $2.1 billion + $11.3 billion)..."
source: © InfoBeat Inc Finance Money Daily @ 12/30/98 |
