
TheStreet.com Internet Sector Index Gets a Brand-New Look
Changing to reflect the new face of Internet stocks, TheStreet.com Internet Sector index will have five new stocks added to it next week and will lose an underperforming member.
Effective at Monday's market open,
Internet Commerce Group
(ICGE)
,
DoubleClick
(DCLK)
,
Ariba
(ARBA)
and
Juniper Networks
(JNPR) - Get Juniper Networks, Inc. Report
will be added to the
index, known as the DOT, which investors use to track the performance of Internet sector stocks.
Also,
TheStreet Recommends
Egghead.com
(EGGS)
will be replaced by
priceline.com
(PCLN)
. The index revisions will bring the number of DOT components to 24.
The DOT, the most widely followed of Net-sector benchmarks, is down more than 20% since Jan. 1. It has, however, bounced back from its 2000 low of 713.87 in mid-April to the 867 level earlier this week, a 21% rebound.
Its high point this year was March 9, when it closed at 1333.22, just before
Nasdaq stocks were crushed. The DOT is down nearly 38% since that point.
Options on the DOT trade on the
Philadelphia Stock Exchange
and have become the most-used
index contract for the sector. The DOT, according to the exchange, accounts for more than 65% of Internet index options volume on all major U.S. options exchanges during the first six months of 2000. Trading in DOT options has averaged nearly three times the average daily volume of its closest competitor.
TheStreet.com Inc.
(TSCM)
and the
Philadelphia Stock Exchange
determine the composition of the DOT, but TheStreet.com receives no revenue from the trading of DOT options. TheStreet.com is the publisher of this Web site.
DOT Components as of July 24
- Amazon.com (AMZN) - Get Amazon.com, Inc. ReportAmerica Online (AOL) Ariba* (ARBA) BroadVision (BVSN) - Get BroadVision Inc. ReportCMGI (CMGI) Check Point Software Technologies (CHKP) - Get Check Point Software Technologies Ltd. ReportDoubleClick* (DCLK) EarthLink (ELNK) eBay (EBAY) - Get eBay Inc. ReportE*Trade (EGRP) Excite@Home (ATHM) - Get Autohome Inc. ReportGo.com (GO) - Get Grocery Outlet Holding Corp. ReportInktomi (INKT) Internet Capital Group* (ICGE) Juniper Networks* (JNPR) - Get Juniper Networks, Inc. ReportLycos (LCOS) Macromedia (MACR) MarchFirst (MRCH) Network Associates (NETA) Open Market (OMKT) priceline.com* (PCLN) RealNetworks (RNWK) - Get RealNetworks, Inc. ReportRSA Security (RSAS) Yahoo! (YHOO)
* = New component