Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: Sir Auric Goldfinger who wrote (808)	1/21/1999 11:43:00 PM
From: Bruce A. Thompson	of 3543

NEW YORK, Jan 21 (Reuters) - Some leading Internet stocks, one of 1999's strongest sectors, are proving they do bleed when pricked, as profit-taking has steadily erased gains. The cooling of interest in Web stocks has shaved more than $100 a share from the sector's highest flyers. One-time Internet darlings like auctioneer eBay Corp. (Nasdaq:EBAY - news), retailer Amazon.com Inc. (Nasdaq:AMZN - news) and media programmer Broadcast.com (Nasdaq:BCST - news) have been hurt by the end of a strong holiday buying season. Internet service provider Yahoo Inc. (Nasdaq:YHOO - news) also was off, falling 27-7/16 to 259-3/4. Earnings reports show most Internet companies are still far from turning a profit. Analysts also said the fledgling Web firms lacked enough history or other data to interest long-term investors. ''You are seeing Internet stocks get some reality into them as profits are taken,'' said Peter Coolidge, senior equity trader at Brean Murray & Co. ''There is some nervousness out there.''

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