Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: 007 who wrote (9490)	4/5/1999 5:04:00 PM
From: Jenne	Respond to of 41369

Investors Drive Up Track Data Stock Ahead Of Online Trading Launch Dow Jones On Line - April 05, 1999 15:13 NEW YORK -(Dow Jones)- Track Data Corp. shares soared Monday, reaching a 52-week high, in anticipation of the market-information company's online trading business, which is scheduled to open this month. Track Data (TRAC) shares gained $14, or 108%, to end at $27, surpassing the previous 52-week high of $15 set Feb. 4. Nasdaq volume reached 8.6 million, compared with average daily volume of 475,400. "We've been telling people we're going into the online trading business starting April 12," Chief Executive Barry Hertz said. "Testing is going very well," he said. Discussion on popular Internet chat rooms showed extensive interest in the company's online business. The New York financial market data firm announced in December it planned to offer online trading services to its myTrack service subscribers. Track Data's myTrack service has more than 50,000 subscribers, Hertz said. The cost per trade will be $12.95, Hertz said. Herzog Heine Geduld Inc. will be the clearing agent for the online brokerage service. News of the April kickoff date attracted the attention of day traders in one popular Internet chat room. As the stock moved up, traders touted the stock and enthusiastically shadowed its rise throughout the morning. "There's no end in sight," said one trader. Day traders are speculative investors who buy and sell a stock in the same day in order to take advantage of subtle price changes. The trading strategy is risky and has been blamed by some market watchers for the volatility in Internet stocks. Hertz also attributed the stock's appreciation Monday to the company's stake in Edgar Online Inc., which filed for an initial public offering last Wednesday. Track Data owns nearly a 10% stake in the Nowalk, Conn.-based Internet information provider, Hertz said. Edgar Online offers business and financial information contained in corporate filings made by public companies with the Securities and Exchange Commission. Copyright (c) 1999 Dow Jones & Company, Inc.