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Stock Report: ISP Sector
The bottom line is that Internet stocks once again can't find a bottom. It's possible to find good companies that are cheap. Those that survive the shakeout will prosper, but how to identify them?
Senior Analyst for the internetstockreport
[December 1, 2000]
The bottom line is that Internet stocks once again can't find a bottom.
Stepping back a bit, the mini-rally that began in late October and gave investors visions of a belated fall run-up is now ancient history, as only 21 'Net tickers, or about 5%, have posted gains in the past month. When will things turn around? Not anytime soon, I fear, given the growing list of factors—contested election results, earnings warnings, fears about interest-rate hikes, heavy margin calls and, perhaps most significantly, concerns about a slowing economy—exerting tremendous downward pressure on the market.
Maybe if the Fed later this month changes its stand on interest rates, or even lowers them, that will help. Until there is a clear bottom, investors should focus on some of the profitable big players that have taken hits this fall. Companies such as America Online and eBay are at or near 52-week lows, while Inktomi is at its cheapest price in nearly two years. There are many other companies that stand to survive the shakeout and prosper. The real money over the long-term comes from betting on the winners, not hoping for miracles.
PERSONAL NOTE: This will be the final edition of Internet StockTracker. Beginning Monday I will be writing The Morning Report.
| Ticker | Company | 11/29 Close | 7-Day Change | 7-Day %Change | 1-Month %Change | YTD
%Change |
Market Cap |
|
PSIX |
PSINet |
1.25 |
0.09 |
8.1% |
-42.2% |
-79.5% |
237.6 |
|
QSCG |
QS Comm. AG |
6.38 |
0.38 |
6.3% |
-30.4% |
N/A |
325.0 |
|
NZRO |
NetZero |
1.38 |
0.06 |
4.8% |
-45.5% |
-92.4% |
168.3 |
|
KOREA |
Korea Thrunet |
4.38 |
0.19 |
4.5% |
-36.2% |
-92.6% |
314.8 |
|
VNWI |
VIA NET.WORKS |
6.50 |
0.13 |
2.0% |
-30.6% |
N/A |
387.9 |
|
--break-even point--
|
|||||||
|
AGCX |
Asia Global |
4.50 |
0.00 |
0.0% |
N/A |
N/A |
2.4B |
|
--break-even point--
|
|||||||
|
JWEB |
Juno Online |
2.31 |
-0.03 |
-1.3% |
-48.3% |
-91.2% |
89.9 |
|
LOAX |
Log On America |
1.03 |
-0.03 |
-2.9% |
-26.0% |
-88.1% |
9.1 |
|
RMII |
RMI.Net |
1.00 |
-0.03 |
-3.0% |
-46.8% |
-86.5% |
21.9 |
|
ELNK |
EarthLink |
6.81 |
-0.28 |
-4.0% |
-37.0% |
-83.4% |
851.1 |
|
FREE |
Freeserve |
20.00 |
-1.00 |
-4.8% |
-35.9% |
-70.1% |
2.0B |
|
GEEK |
Internet America |
1.09 |
-0.09 |
-7.9% |
-54.5% |
-85.6% |
10.6 |
|
NPLI |
Netpliance |
1.00 |
-0.09 |
-8.6% |
-48.7% |
N/A |
60.4 |
|
IDTC |
IDT Corp. |
25.88 |
-2.63 |
-9.2% |
-17.8% |
80.2% |
954.1 |
|
TLCT |
Telocity Delaware |
1.94 |
-0.22 |
-10.1% |
-54.4% |
N/A |
164.4 |
|
ISLD |
Digital Island |
5.06 |
-0.84 |
-14.3% |
-46.2% |
-84.9% |
352.8 |
|
HANA |
Hanaro Telecom |
3.00 |
-0.50 |
-14.3% |
11.0% |
N/A |
792.0 |
|
IGLD |
Internet Gold |
2.25 |
-0.44 |
-16.3% |
-46.9% |
-84.4% |
41.5 |
|
DSLN |
DSL.net |
1.00 |
-0.20 |
-16.9% |
-35.7% |
-78.8% |
65.9 |
|
GIGM |
GigaMedia |
3.06 |
-0.69 |
-18.3% |
-29.9% |
N/A |
149.5 |
|
IZAP |
ZapME! |
1.16 |
-0.28 |
-19.6% |
N/A |
-75.5% |
52.2 |
|
PRGY |
Prodigy |
2.50 |
-0.63 |
-20.0% |
-45.6% |
-74.0% |
174.6 |
|
PCNTF |
Pacific Internet |
3.00 |
-0.91 |
-23.2% |
-61.1% |
-88.3% |
37.9 |
|
IIJI |
Internet-Japan |
11.00 |
-3.50 |
-24.1% |
-21.0% |
-65.3% |
494.6 |
|
FSST |
FASTNET |
0.34 |
-0.19 |
-35.3% |
-16.0% |
N/A |
5.2 |
|
IAWK |
Iasiaworks |
4.38 |
-2.50 |
-36.4% |
-28.1% |
N/A |
171.9 |
|
PNVN |
PNV |
0.13 |
-0.13 |
-50.0% |
-44.4% |
-91.7% |
2.0 |
|
ATHY |
AppliedTheory |
1.19 |
-1.81 |
-60.4% |
-36.8% |
-82.3% |
29.5 |
|
DSLN |
DSL.net |
1.69 |
-1.06 |
-38.6% |
-35.7% |
-78.8% |
111.2 |
ISP/Access Provider 7-Day Average: -12.9%
Am I glad this is the end. Just as it is the end (or near, anyway) for truck-stop 'Net access provider PNV, which now sports a market cap of $2 million. Meanwhile, PSINet floats to the top of the group this week, even as if fights off shareholder class-action lawsuits.
DSL.net says it will lay off 28% of its employees to cut costs. An appropriate way to wrap up and sign off. See you Monday morning at The Morning Report.
Disclaimer: Neither internet.com nor the writers of this newsletter makes specific trading recommendations or gives individualized market advice. Information contained in this newsletter is provided as an information service only. internet.com recommends that you get personal advice from an investment professional before buying or selling stocks or other securities. The securities markets are highly speculative areas for investments and only you can determine what level of risk is appropriate for you. Although internet.com obtains the information reported herein from sources that it deems reliable, no warranty can be given as to the accuracy or completeness of any of the information provided or as to the results obtained by individuals using such information. Each user shall be responsible for the risks of their own investment activities and, in no event, shall internet.com or its employees, agents or affiliates be liable for any direct, indirect, actual, special or consequential damages resulting from the use of the information provided. internet.com, its employees and affiliates may own securities in companies mentioned in this newsletter. It is against internet.com policies to accept any compensation, in connection with information contained within this newsletter. internet.com may, however, receive advertising or other revenue from companies that may be mentioned herein.
—End
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