Mark,
I understand your point. I don't think anyone here would argue with you that the sector is HUGELY overvalued. AS someone put it a while ago, "Put .com after our name and watch the money roll in." That is a very accurate phrase. But in defence of internet stock, this is a new type of product, perhaps profit has nothing to do with performance of internet stock, popularity does. If people use it and heard of it, stock will go up, way up. Of course, these are not blue chip stocks, nor are going to perform as blue chips. I seriously doubt that any Wall Street and Bay Street big wigs were behind Yahoo when it came out and for a long time they struggled ( I am guessing here, havent researched it) finally, the oldies took a risk and you have a 500 stock.
True, we can't judge this stock by the typical stats, but why should we,its not a typical sector. I an only refering to the standard stats in an effort to try and find some reason for the low volume and aparent lack of interest this past week. Some folks have already answered that question for me ( thanks ) Its a new, weird sector, we have to think new and weird to make it here. JMHO
And thank you for your reply. It's good to get a reminder every so often to check the reality. |
