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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: The Duke of URL© who wrote (1829)	8/7/1999 8:13:00 PM
From: Arcane Lore	Read Replies (1) \| Respond to of 3543

Eight companies postpone IPOs amid market uncertainty, three others have listless launches By Michael White, Associated Press, 08/06/99 17:52 LOS ANGELES (AP) An outbreak of cold feet swept through the market for initial public offerings Friday as eight of 11 companies poised to go public postponed their debuts a sign that the IPO market may have stalled again. Friday's calendar of offerings on the Nasdaq Stock Market was pared down after a week of sharp swings in investor enthusiasm for a market dominated by Internet companies. The three companies that went through with IPOs had a lackluster reception Friday. ... ''Those companies planning to go public today are kind of traumatized by what's happened this week,'' said Jay Ritter, a University of Florida finance professor who specializes in IPOs. ''The IPO market, whether we're dealing with the Internet or any industry, has always been sensitive to market movements, and Internet stocks are sensitive to extremes.'' Enthusiasm for Internet IPOs appeared to revive on Thursday when Internet Capital Group, a Wayne, Pa., holding company with investments in 35 Internet businesses, more than doubled its offering price on the first day of trading. Two other Web-related IPOs also performed well, but another two got a cold shoulder from investors. That followed a disastrous run on Tuesday in which all three companies going public fell below their offering prices. Four more companies met the same fate on Wednesday. ... boston.com