Word: amazons
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Dates: during 1990-1999
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...They had panache. They were cocktail chatter, and their stocks (and stockholders) were giddy. The money-losing online bookseller Amazon.com long ago blew past venerable Sears in terms of market value. At the time, investors gasped and marveled. They kept buying, but at least they noticed. By April, though, Amazon's worth was fast approaching that of Sears and Wal-Mart combined, and nobody was paying attention...
They are now. Amazon's April apex, it turns out, was the top of the market for Internet stocks. On average, they have declined 32%, and many, including Amazon, have halved. So, is it time to declare the Internet bubble burst and set the Net stocks next to other flameouts, such as biotechnology (1980s), computer leasing (1970s) and, yes, tulips (1600s...
...fund industry is praying that the online trading boom and focus on just a few stocks (America Online, Amazon, eBay, Yahoo, Cisco) is a short-term phenomenon, the sign of a cyclical market that has got out of hand, rather than a fundamental, long-term shift. "It's based on a false sense of empowerment," claims funds watcher Avi Nachmany of Strategic Insight. Once the narrow bull market calms down, or broadens to include harder-to-choose value and small-cap stocks (as it appears to have done of late), Nachmany and others argue, investors will rush back...
...taking an extended leave of absence. It's not clear that he's headed for a Net newcomer, but that's exactly what others before him have done. Last summer Peter Neupert, one of Microsoft's biggest new media advocates, left to run Drugstore.com, a site now backed by Amazon. MORE...
...Homegrocer.com was founded only last year, and is funded with money from Kleiner Perkins Caufield & Byers, the same venture capital firm that helped launch big Internet brands such as Amazon, Excite and At Home. Last month former Netscape chief executive James Barksdale invested some $5 million in the privately held online grocery company. MORE...