Talk about your slam dunks.
never even had it this easy.
With Internet indices at record highs, a couple of Internet IPOs were debuting today. And the jubilancy in the marketplace was being reflected in the newcomers' performance.
It was also definitely reflected in
TheStreet.com Internet Sector
index, which lately was up 19.38, or 2.4%, at 816.19.
was up 11 3/4, or 78%, at 26 3/4. Though it was not registering some of the triple-digit gains that have characterized many of the recent hot IPOs, remember that Webvan was offering 25 million shares, much more than some other recent IPOs that offered less than 10 million.
Webvan delayed its IPO last month after a
reported statements that the company made during its roadshow that it had not disclosed in public filings. But some say that any publicity is good publicity, and it doesn't appear that Webvan was being punished for its past actions.
had a relatively small offering at 5 million shares. Cobalt, which makes network appliances used for a variety of server tasks such as e-commerce and email, was up 108 1/2, or 494%, at 130 1/2.
(WFII:Nasdaq), which was offering 4 million shares, was up 45, or 300%, at 60. The company designs wireless networks.
The other success story of the day was
, a member of the
Red Hots. It was up 43 7/8, or 20%, at 226 7/8. No particular news about the company was out, and the stock may just be seeing a major short squeeze. Phone.com announced a 2-for-1 stock split on Oct. 18, payable Nov. 12.
And no offense to James Marks, the new online brokerage analyst at
Credit Suisse First Boston
, but what's going on with
National Discount Brokerage
is a bit of a joke. The stock was up 6 5/8, or 22.8%, at 35 5/8 after Marks initiated coverage of the stock with a strong buy rating. But as
noted in an earlier
piece, it's the same rating Marks put on the stock back in June, when he was an analyst at
Deutsche Banc Alex. Brown