Internet Update
Dateline: 09/06/99
Click on the title above for this week's Movers & Shakers table.
The number of stocks on our indices moving 10% or more has 15 advancers and only 9 decliners this week. That's a total of 24 out of our 87 stocks.
Travelbyus.com has now entered its third consecutive week of double digit gains. It jumped a whopping 71.1% from $0.90 last week to $1.54 on Friday. It was at $0.59 on Aug. 13 for a gain of 161.0% in three weeks. This follows hot on the heels of an announcement on Aug. 27 of a strategic partnership with a major airline computer reservation system (un-named) to jointly develop its Internet travel solutions website to be released in October. Travelbyus.com is the former LatinGold, a mining company. Looks like they've struck the motherlode!
But Travelbyus.com's 71.1% gain is only the second best for the week. iCrystal jumped 76.2%. This company based in Surrey, B.C. and traded on the American OTC BB develops gambling software. It's stock price has not done very well previously. In fact it is still down 90% from its January 1st level of $4. But it is starting to recover from three consecutive weeks of double digit losses recently.
Another gaming software company, Cryptologic is the third best mover for the week and is in its second week of double digit gains. It's up 56.9% in the last two weeks. No doubt, part of the success of iCrystal and Cryptologic has been fallout from the fiasco surrounding Starnet Communications. The raid on Starnet by the police two weeks ago knocked its stock for a loop and it has yet to recover.
Investors interested in profiting from the projected explosion in online gambling have, apparently, moved their money into these other two stocks.
Also on its second week of double digit gains are Vancouver based Stox.com which has gained $1.00 from $3.35 to $4.35 in the last two weeks.
On the negative side, one stock, Topclick.com, is in its third consecutive week of double digit losses. This Internet directory/search engine, has dropped from $1.81 three weeks ago to $0.94 on Friday, almost 50%.
Two stocks are in their second consecutive week of major declines, Innnofone and iWave.
Canadian Internet Stock
Index
Metamorphosis Index
Yankee Index
No new additions to our indices this week, but please note the change to Shaw Communications as noted in our Canadian Internet Stock Average. Shaw has spun off its broadcasting interests into a new company, Corus Entertainment.
Onyl one profile this week - Travelbyus.com Ltd.
Comments? Suggestions? Why not post them on our Bulletin Board or email me.
E-mail me!
09/01//99 - Island
in the Sun - Part 3: The Development
Getting through the bureaucracy was a struggle. Here's how it was
done!
09/01//99 - Island
in the Sun - Part 2: The History
A brief economic history of Hardy Island.
08/30/99 - Internet
Update: medEra Life Science Corporation Profiled
Along with our Movers & Shakers list and updates to our
Internet indices, we profile medEra Life Science Corporation.
08/27//99 - Island
in the Sun - Part 1: The Property
We take a look at a gorgeous and little known piece of Sunshine
Coast real estate.
08/23/99 - Investors
Caught in the Crossfire
The police raid Starnet Communications and investors lose big
time. And we take our usual Monday look at the Internet Movers
& Shakers.
Disclosure: The author may own shares in some of the securities listed.
Currently reading: Krash: How Y2K Could Sink the Stock Market and What Canadians Can Do About It by Stephen Gadsden and Jonathan Chevreau. I'll be reviewing it here shortly, maybe next week, but I am a slow reader. It's about time for a Y2K update!
Also I recently received a letter from someone who's company is now engaged in a lawsuit against UCC Total Home, the company I wrote about here in June. Seems there's also a class action lawsuit against the company. I'll be doing a follow-up on that article as a result of this new information.
Additionally, I am planning to write an article on collecting antiquarian books - maybe even this week.