Word: communicationsstock
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...company has never shown a profit, and revenues for the first half of this year were a tiny $16.6 million. But theinitial public offering of Netscape Communicationsstock today sent Wall Street traders into a frenzy. Almost 13.8 million shares changed hands (twice the amount of available stock), as Netscape shot from an opening price of $28 to as high as $75 before closing at $58.25 a share. After one day of trading, the company's value had more than doubled, to over $2.9 billion. "What's going on is thatWall St. is voting in a big way for the internet...
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