Word: ipos
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...glut hurts in another key way. It creates well-capitalized competition for companies that have already gone public. This is an underappreciated phenomenon. Each new Internet IPO equips yet another company to steal business from the incumbents. Instead of one online pet store, there are three. That pushes all companies in the same line of enterprise further from the future profits that, to a degree, all Internet investors count...
...unlikely that many of the survivors will come from the current crop of Internet stocks making their debuts as IPOs. Now on the docket are many also-rans, third or fourth to market with second-tier managements. Take PCQuote.com which filed last Wednesday to raise $100 million. It competes in the already jammed area of financial data, which includes TheStreet.com Reuters and others. "How new is that? Let's go watch paint dry," sniffs David Menlow of the research firm IPO Financial Network...
...Thursday, HotJobs.com filed for an IPO, hoping to raise $69 million this summer, even though other stocks in the category, like Topjobs.net have struggled. "A story is only interesting the first time," says Chip Morris, manager of the T. Rowe Price Science and Technology Fund. "By the hundredth time an Internet company comes in repeating the same mantra, you just want to scream to somebody, 'Give me a break...
...hearing much out of the Boston-based company known as Streamline these days, but that doesn't mean they're not out to change the world. They're in one of those pre-IPO quiet periods, poised to rake in around $69 million, if all goes according to plan. And if the future goes according to Streamline's plan, the end of offline shopping is at hand, and you may never leave the house again...
...IPO A GO-GO Dedicated day traders have a new way to get hold of shares in those skyrocketing Internet IPOs. Last week Discover Brokerage Direct became the latest online player to offer retail investors a small portion of stock in initial public offerings, before the new issues leap 500% on their market debuts. To participate, you'll need to have a hefty $100,000 in your account, and a hearty appetite for risk--despite the recent mania, most IPOs turn out to be losers...