Dateline: 10/18/99
The markets took a beating last week and it is reflected in our Movers & Shakers Report. Of the fifteen double digit movers from our CISA list, fully thirteen declined, led by Bid.com which issued a revenue warning this week and took a beating. Check out this week's Movers & Shakers.
Click on the title above for a table of this week's Movers & Shakers.
15 of the 61 stocks now on our Canadian Internet Stock Average fluctuated by more than 10% the past week. Of these, only two gained, the others all declined. This reflects the stock market in general last week.
Of the two gainers, one is Adventurx.com, a company involved in bicycle rentals at resorts. It had declined from $1.20 to $0.90 the week before and regained its losses back to $1.20. This is a relatively new stock and is largely an unknown quantity yet.
The other gainer, Em-Net, is now in its third consecutive week of double digit gains. As noted last week, the VSE listed company provides live entertainment on the Internet through its wholly owned subsidiary, BuyBroadway Online . With over 20,000 pages, BuyBroadway's website is the largest live entertainment site on the Internet and hosts the official websites for such Broadway productions as Titanic, Rent, Death of a Salesman, Footloose, The Sound of Music, Annie, and Peter Pan.
The biggest drop for the week was Bid.com after it issued an earnings warning. Third quarter revenue could be 30% less than expected, the company said, and annual revenue could be off as much as 40%.
Corel Corporation, which has recently made significant gains in share price, dropped 13% for the week in the wake of charges of insider trading against CEO Michael Cowpland. The company has been making great strides since its turnaround to profitability and this may be a good buying opportunity. It is one of Pat McKeough's recommended speculative stocks for aggressive investors in his Stock Pickers Digest. (Recommended at $6.65 in the September issue).
Three of our stocks, Travelbyus.com, Dion Entertainment and Valu-Net, are in their second week of double digit declines and Softcare Electronic Commerce is in its third week.
The Canadian Internet Stock Average has been updated with Friday's closing prices. Three new stocks were added to the list bringing our total tracked to 61. The Yankee Index has been replaced by a stock list similar to the Penny Stock List except it lists Canadian Internet companies traded exclusively on American Exchanges. And, of course, if you're interested in the penny stocks - the Internet stocks trading under a dollar, be sure to check out our Canadian Internet Penny Stock List.
Canadian
Internet Stock Average
Canadian Internet
Penny Stock List
Yankee Stock
List
Profiled this week are Em-Net which has been advancing sharply for three weeks now, and Burntsands Inc., a company which has been around for a while but which was only added to our index this week.
Comments? Suggestions? Why not post them on our Bulletin Board or email me.
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10/16//99 - Golds
Top Sept. Fund Performers
Our monthly mutuals analysis notes the strong performance of gold
in September. And we bring you our new charts and tables as well.
10/14//99 - Book
Review: Allowances: Dollars & Sense
We ewview Paul Lermitte's new book on how to teach your kids
about money.
10/12/99 - Week of
the Giants
Three large Internet companies from our index all rose more than
10% last week.
10/07/99 - Gold
Rush '99
The Gold Rush is on! But is it a flash in the goldpan or the real
thing?
10/04/99 - New
Media Revolution
We take a look at Iceberg Media.com, an up and coming Internet
broadcaster and speculate about the future of the mainstream
media in the digital age.
Disclosure: The author owns shares in Nortel Networks and JDS Uniphase.
Coming Soon: The updated mutual fund data is in at Globefund, so look for our Monthly Mutuals Analysis either Thursday or Saturday. Also look for a review of Paul Lermitte's Allowances, Dollars and Sense: A Proven System for Teaching Your Kids About Money.