FOR IMMEDIATE RELEASE
Philadelphia Stock Exchange
THESTREET.COM INTERNET SECTOR INDEX BREAKS 1000 Index Created by TheStreet.com Has Soared More Than 150% Year-to-Date
PHILADELPHIA and NEW YORK, December 6, 1999 -
TheStreet.com Internet Sector index (ticker symbol: DOT) surged past the 1000 mark on Friday, December 3
rd , closing above 1000 for the first time since its inception last year. The widely followed and frequently traded index closed at 1028.54, up more than 150% for the year, compared with a gain of approximately 16% by the Standard & Poor's 500 index during the same period.
"We are excited that TheStreet.com Internet Sector index has become the leading Internet index just one year after its launch," said Thomas J. Clarke, Chief Executive Officer of TheStreet.com. "The DOT offers a powerful way for investors to easily track the performance of the vibrant and growing Internet sector."
TheStreet.com Internet Sector is one of the most closely followed new indices. Options based on the index's performance are much more heavily traded than any other Internet index option, with DOT options accounting for more than 70% of Internet index options volume on all major U.S. options exchanges during the month of November. Trading in DOT options has averaged more than three times the average daily volume of the closest competitor.
TheStreet.com Internet Sector index is the creation of TheStreet.com, a leading Web-based provider of financial news and commentary, and the Philadelphia Stock Exchange (PHLX), the fastest growing sector index options exchange. Launched in December 1998, the index measures the stock performance of a group of twenty leading companies involved in Internet commerce, service and software. Options based on the index trade on the PHLX. TheStreet.com Internet Sector is an equal-dollar-weighted index, with an equivalent value assigned to each of these twenty Net players:
- Amazon.com (Nasdaq: AMZN)
- America Online (NYSE: AOL)
- BroadVision (Nasdaq: BVSN)
- CMGI (Nasdaq: CMGI)
- Check Point Software Technologies (Nasdaq: CHKP)
- EBay (Nasdaq: EBAY)
- E*Trade (Nasdaq: EGRP)
- Egghead.com (Nasdaq: EGGSD)
- Excite@Home (Nasdaq: ATHM)
- go.com (NYSE: GO)
- Inktomi (Nasdaq: INKT)
- Lycos (Nasdaq: LCOS)
- Macromedia (Nasdaq: MACR)
- MindSpring Enterprises (Nasdaq: MSPG)
- Network Associates (Nasdaq: NETA)
- Open Market (Nasdaq: OMKT)
- RealNetworks (Nasdaq: RNWK)
- RSA Security (Nasdaq: RSAS)
- USWeb/CKS (Nasdaq: USWB)
- Yahoo! (Nasdaq: YHOO)
The Philadelphia Stock Exchange is the first securities exchange in the U.S. and the nation's fastest growing sectors index options exchange. Founded in 1790, PHLX is a market leader in the trading of over 2600 stocks, 950 equity options, 12 sectors index options, and 100 currency pairs.
TSCM) is publisher of
, a leading Web-based provider of original, timely, comprehensive, and trustworthy financial news and commentary.
www.thestreet.com) was founded in 1996 and is based in New York City, with bureaus in San Francisco, Silicon Valley, London, Tokyo, and Berlin.
's editorial team, with over 80 experienced financial journalists and two dozen outside contributors, publishes approximately 50 original news stories and commentaries every business day, including columns by James J. Cramer, Herb Greenberg and Adam Lashinsky.
has established strategic alliances with Yahoo!, America Online, The New York Times Co., Fox News Network L.L.C., Intuit, 3Com, E*TRADE, DLJ
, and other leading companies.
, a financial news site majority owned by TheStreet.com and intended for UK investors, will launch in early 2000.
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