Internet Update
Dateline: 07/26/99
Click on the title above to see this week's Movers & Shakers.
Of the 80 stocks on our charts, 6 gained and 23 declined by more than ten percent last week. Not surprising since the market as a whole took a beating last week.
The top gainer, Stockscape, has been something of a yo-yo moving from largest gainer to largest decliner and now back to largest gainer again. This is the result of confusion in the market after Cornucopia Resources changed to Stockscape.com and then failed to coincide the consolidation of shares with the nname change. Now that the share consolidation has taken place, the stock is moving back to a level that reflects its pre-consolidation level plus a modest premium.
Nine of the movers and shakers were also on last week's list. Besides Stockscape which moved from worst to best for the week, Cybersurf, Axion Communications and Microforum suffered a reversal, but not as much as their original gains of the week before. Five others entered their second week of double digit decline with Stox.com doing the worst. It has lost over 50% of its value in the last two weeks.
The other stocks in their second week of double digit decline are Rux Resources, Dejour Mines, IGN and Em Net.
Canadian Internet Stock
Index
Metamorphosis Index
Yankee Index
We added seven new stocks to our various indexes this week bringing the total number charted to 80. To our main index, the Canadian Internet Stock Average, we added three stocks. They are Actfit.com (formerly Lasermedia Communications), Multiactive Software and Info Touch Technologies. The latter two are recent IPOs, but Actfit.com has been around for a while and I missed it somehow. Thanks to the reader who drew this to my attention.
We added four new stocks to our Metamorphosis Index - you know the ones - those companies that re-invented themselves as Internet companies after failing at what they were doing before. Although that's not always the case. Sometimes there are reverse takeovers involved and the Internet company has been around for a while, but was hitherto privately held.
The four new additions are Bronx Minerals, GNI Petroleum, Softcare Electronic Commerce and Fifty-Plus.Net International. The first two are licensees of Starnet's gambling software and hope to establish an online casino.
Softcare Electronic Commerce is an e-commerce facilitator with offices in North Vancouver, B.C. and Seattle, Washington. It was founded in 1989 and the "metamorphosis" of Savannah International Ventures to Softcare Ec-Com amounts to a reverse takeover.
Fifty-Plus.Net was formerly Ventel Inc.. As Fifty-Plus.Net it operates a seniors website of the same name for the Canadian Association of Retired Persons.Our profiles this week are of two of the three new additions to our CISA list. I've changed the makeup of the profiles and will eventually have similar profiles of all the stocks on our indices. They are being standardized as a reference source with a short description and relevant links to additional information on the Net.
Comments? Suggestions? Why not post them on our Bulletin Board or email me.
E-mail me!
07/22/99 - Making
Us More User Friendly
We've added a new resource page and tell you all about it.
07/19/99 - Internet
Update: Innofone & NetNation Profiled
Along with our Movers & Shakers list and updates to our
Internet indices, we profile two new additions to our Yankee
Index.
07/16/99 - Best of
the Net: The Fund Library
We profile one of the best mutual fund websites in Canada.
07/14/99 - 6 Month
Mutual Fund Report
Our semi-annual report on funds that made
our Power Performers list for the last six months.
07/12/99 - E-commerce
& Convergence
Our weekly Internet Update looks at Microforum and Rogers
Communications as well as listing the movers and shakers among
Internet stocks for the previous week.
Updates: We've added five pages to our Mutual Fund Database of Key Links bringing the total to 60 pages. Last week we added a new page, the One Stop Investing Spot with key links to the most importnat and useful websites for Canadian investors all on one page. This page, of course, will be under constant revision, so if I missed your favorite page and want it added, let me know!
Disclosure: The author owns shares in Stockscape Technologies and Microforum.
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