Posted on 05/03/2003 9:00:12 AM PDT by NormsRevenge
Edited on 04/13/2004 3:31:03 AM PDT by Jim Robinson. [history]
EBay's shares hit $95 on Friday -- giving the San Jose online auctioneer a market value greater than McDonald's and General Motors.
Amazon.com, the world's largest Internet retailer, reached a 52-week high Friday, even on the heels of an unprofitable quarter. And Yahoo's stock price is up nearly 150 percent in eight months.
(Excerpt) Read more at bayarea.com ...
Maybe eBay and Amazon are doing so well because so many people are selling off their stuff to stay alive or are just reading more as they wait for employers to call them with job offers.
Just a theory. ;-)
Netflix, which rents DVDs over the Internet, hit a market valuation of half a billion dollars a few days ago. It has yet to show a profit since going public a year ago.
Perhaps it would be better to invest in a no growth toilet paper manufacturer with a P/E of three. And I haven't seen any hype concerning the internets. If anything, the analysts have been very free about issuing downgrades. The surviving internets are simply outperforming the rest of our stagnant Country Club Republican economy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.