.
The skyrocketing prices have left some industry players aghast.
The stock prices "totally make no sense. Even with the prospects for future growth, I can't imagine it," said Kenneth Kraska, President, The R.J. Forbes Group, a deep discount broker.
"I would think it's all based on hype," he said. "People see Yahoo! go from nothing to $350 (a share) and then Amazon and they think (Internet) stocks are going to go through the roof and they're not looking at the fundamentals."
On-line brokerage accounts account for approximately 25 percent of all retail stock trades, according to the Securities and Exchange Commission. The number of on-line brokerage accounts is expected to exceed 10 million by the end of the year, the SEC has said.
SIEB
NASD
Last Chg.
62 1/2 +13
% Chg. Vol.
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52 49 1/2
As of
Feb 04/99 11:47 am ET
Last Trade
Feb 04/99 11:32 am ET
15 MIN. DELAY
On-line brokerage accounts account for approximately 25 percent of all retail stock trades, according to the Securities and Exchange Commission. The number of on-line brokerage accounts is expected to exceed 10 million by the end of the year, the SEC has said.
Still, it's not clear to some analysts that current market valuations make sense even amid the explosive growth of online trading.
Investors were valuing E-Trade at $8,000 per core account at the end of January, noted e-commerce analyst James Marks of Deutsche Bank Securities. |
