Dateline: 12/13/99
Less than a week to
Christmas and less than two weeks to the New Year! Let me take
this opportunity to wish all of my readers a very Merry Christmas
and a Joyous (and prosperous) New Year! It's been an exciting
year in the stock market and next year promises to be even more
interesting.
Will there be a Y2K bust? Or will the market propel to unheard of new highs? Whatever the case may be, we'll be here reporting on it. We will launch the new year with a definitive weighted Internet Stock Average. The details are still being worked out, but it will give a better week to week idea of how Internet stocks are doing as we won't keep adding and dropping stocks. There will be fifty stocks in the Index. But don't worry that we won't cover the other 25 stocks currently on our list that we will drop. We'll create a complete Internet stock list as well that includes those.
This may be my last article before the New Year as I want to spend time with family and I also have to work on the new index. If I don't post any new articles, I will resurrect some of my favorites from the past.
Meanwhile, if you live in the Vancouver area, be sure to catch the annual Cambridge Vancouver Investment Conference in January. It's free if you pre-register at their website. Maybe I'll see you there! Now on to today's report.
| Canadian Internet Stock Average | |||
| Dec. 10 | Dec. 17 | Week's Change | YTD Change |
| 4344* | 4297 | -1.1% | +329.7% |
There was less volatility in our index this past week as only 22 of the 75 stocks on our Canadian Internet Stock Average fluctuated by more than 10%. The week before there had been 35. Of those 22 stocks, 14 were advancers and 8 were decliners. The size of the fluctuations have declined as well. To see the Movers & Shakers as a pop-up chart, click the button. To see it as a separate page with the discussion on the same page, click here.
Top of the list is Timebeat.com Enterprises (CDNX - TBE, OTC - TMBTF) which had sunk below a dollar a share last week and bounced back with a 43.68% gain to $1.25. Timebeat.com is an online e-tailer of fine watches and jewelry. They also sell used watches by auction. The company announced Friday, Dec. 17th that it had signed an agreement to acquire Watchzone.net, an online community for serious watch collectors. I never would have guessed that there was such interest in watches as collectibles, but Watchzone gets over 400,000 pagehits a month. The acquisition will give Timebeat a ready market for its timepieces.
Second on our list with a 27.66% gain is Montreal based DTM Information Technologies. As noted here Dec. 6th after the stock had jumped 60%, DTM was named an IBM Web Integrator Premier Partner in late October and announced its first quarter profits on Dec. 2nd. The company had re-focused on the service end of its business and service revenues had jumped 70%. It expects excellent results in 2000 as companies that have held back on implementing new software due to Y2K join the rush to upgrade.
Stox.com (CDNX - URL) is third on the list with a 24.75% gain. This followed the successful completion of a $14 million special warrant offering. With the injection of new capital, the company is prepared to add network infrastructure, set up offices in Toronto and New York and expand into Europe. It's in its third week of double digit gains.
Last week's list topper, Sideware Systems (CDNX - SYD.U, OTC - SDWSF), had a checkered week but still ended up 23.01%. The developer of the increasingly popular Dr. Bean Customer Relations Management program jumped to $8.15 on Monday and $9.60 Tuesday before retrenching to close at $6.95 Friday. The company is also in its third week of double digit gains.
Also up over 20% is MGI Software (TSE - MGI), profiled here briefly in our Nov. 29th report as one of three companies that about doubled that week. It gained 98.63% that week after announcing a deal with Hitachi that would see the Japanese electronics firm license MGI's Pure DIVA software which enables computers to act like televisions. It barely retrenched at all the following week and now is motoring along again. Week 2 of major gains for MGI!
Other multi-week gainers are Burntsand, Nettron, Jetform and Carbiz.com, all in their second week of double digit gains.
On the negative side, e-Dispatch Wireless Data continues to retrench for a second week after seven consecutive weeks of double digit gains as related here November 29.
The most mercurial stock of the week though, had to be Corel again. The stock gained 8% to $49.50 Monday, Dec. 13, after CNET awarded the Corel version of Linux its "Editor's Choice" award as the best of the seven major products now available on the market.
But on Wednesday, Mitchell O'Reilly, Corel's chief financial officer, resigned. O'Reilly is the man widely regarded as responsible for the company's dramatic turnaround from money loser to money maker. The bad news hit the stock hard sending it plummeting to $33.15.
Some analysts have bailed on the company. David Wright, technology analyst at Nesbitt Burns, downgraded the stock to "underperform" with a target of $12. Ralph Garcea of Scotia Capital Markets gave the stock a "reduce" rating with a target of $9. The investing public isn't buying the negative reports though as the stock rose Friday to close at $36.70 in spite of the morning headlines.
Some minor changes in our Canadian Internet Stock Average this week - we added EcomPark Inc. from our Penny Stock List and 8 Crown Capital has changed its name to Starfire Technologies International. Its new stock symbol is SFI on the Canadian Venture Exchange.
Canadian
Internet Stock Average
Canadian Internet
Penny Stock List
Yankee Stock
List
This week we profile on Timebeat.com Enterprises.
Comments? Suggestions? Why not post them on our Bulletin Board or email me.
E-mail me!
ZZZNEWSLETTERSIGNUP1ZZZ
12/16/99 - Musical
Funds
Which mutual fund group was the best performer for November? It
seems to be a game of musical chairs as a different sector excels
each month.
12/13/99 - That's Doctor
Bean!
The Doctor is in! Sideware Systems Dr. Bean Customer Relations
Management software and some key deals send the stock soaring as
we check in with our weekly Intenet Update.
12/09/99 -
Newsletter Profile: They Got Mo'!
Our second newsletter profile looks at the momentum analysis
system of The Cabot Market Letter.
12/06//99 - The
Rumour Mill
With this week's Movers & Shakers we look at how rumours
moved one stock in spectacular fashion and then the unravelling
of the rumour brought it right back down again.
12/02/99 - NASDAQ
of the North
The VSE and ASE merged as the new Canadian Venture Exchange on
Monday. We take a look at the new entity.
Copyright Notice: The mail graphic was taken from Icons For HTML and is believed to be in the public domain. Please advise me if that is not the case. The Santa with Horses graphic is from About.com's Guide to Horse Racing Cindy Pierson. The midi file is from The Midi Farm.