NetEase Inc (NTES): Today's Featured Internet Laggard
NetEase (NTES) pushed the Internet industry lower today making it today's featured Internet laggard. The industry as a whole closed the day up 1.4%. By the end of trading, NetEase fell $8.62 (-14.8%) to $49.56 on heavy volume. Throughout the day, 5.6 million shares of NetEase exchanged hands as compared to its average daily volume of 671,000 shares. The stock ranged in price between $49.42-$53.75 after having opened the day at $53 as compared to the previous trading day's close of $58.18. Other companies within the Internet industry that declined today were: Facebook Inc Class A (FB), down 6.3%, Groupon (GRPN), down 6%, Local Corporation (LOCM), down 4.3%, and BroadVision (BVSN), down 3.3%.
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