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Technology Stocks : Interliant, Inc. (INIT) -- Ignore unavailable to you. Want to Upgrade?

To: Panita who wrote (650)	8/5/1999 10:39:00 PM
From: AlienTech	Respond to of 1214

Interliant Shares Continue To Slide But Firm Offers No Reason Dow Jones Online News, Wednesday, August 04, 1999 at 20:18 By Frank Byrt, Staff Reporter BOSTON -(Dow Jones)- Shares of Interliant Inc., a young Internet Web-hosting firm, fell Wednesday, but the company said there has been no news coming from the company that would affect its share price. The decline came as Internet issues in general have come under selling pressure in recent sessions amid interest-rate concerns. Also, Internet IPOs have not fared well, with three recent issues falling before their offering price. Interliant (INIT), of Purchase, N.Y., launched its initial public offering July 8 at $10 per share and the stock closed at $16.813 in its first day of trading. By July 19, it reached a high of $23.359. But it has slipped since then, closing Tuesday at $16.375. The stock fell further Wednesday, losing $3.813, or 23%, to close at $12.563 on Nasdaq volume of almost 2.2 million shares. William Wilson, chief financial officer of the company, said there was no news from the company Wednesday and declined further comment. Wednesday was the first day after the end of the quiet period following the company's initial public offering. Also Wednesday, Merrill Lynch & Co. initiated coverage of the company with a near-term "accumulate" and a long-term "buy" rating. Merrill analyst Henry Blodget set a 12-month target price of $20 per share. Blodget did not return calls for comment Wednesday. Frank Byrt; 617-654-6742; frank.byrt@dowjones.com Copyright (c) 1999 Dow Jones & Company, Inc. All Rights Reserved.