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Technology Stocks : WorldGate Communications, Inc. (WGAT)
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To: Zoro who wrote (105)4/25/1999 1:02:00 PM
From: blankmind  Read Replies (1) of 589
 
Internet IPOs May Be Losing Their Momentum, Investors Tell WSJ

Reston, Virginia, April 21 (Bloomberg) -- The wave of Internet initial public offerings in which shares rise sharply may be ending as ''we're starting to scrape the barrel on the quality of companies coming public,'' Invesco Technology Fund portfolio manager William Keithler told the Wall Street Journal's ''Heard on the Street.'' Though Proxicom Inc. shares rose after its IPO yesterday, shares in several recent Internet IPOs like WorldGate Communications have fallen below their first-day highs. ''There are still some high-quality companies coming out, but the quality mix appears to be declining,'' Hambrecht & Quist Chairman Dan Case told the paper.

Shares in Proxicom, which builds Web sites for online businesses, rose 50 percent in its first day of trading yesterday as other Internet companies rebounded from declines the past week. (WSJ Interactive Edition 4/21 wsj.com)

thanks to gark korn for this article.
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