SAN FRANCISCO -- Remember the days when a stock split was not really a fundamental factor? Well, that, and lots of other traditional trading practices, have been thrown out the window when it comes to Internet stocks.
As most eyes were focused on the
attempting to close above 10,000, those with a couple of split plays in the Net sector were busy bailing out.
nearly doubled from the 151 low it made just two weeks ago when it hit a high of 300 around 2:30 p.m. today. It was trading as high as 299 3/4 with 15 minutes to go in the session, then plummeted to its closing price of 284 7/16, a 6 3/16 gain. The stock will split 2-for-1 on March 23.
Seeing a similar trading pattern was
, which was up more than 20 points today before cutting the gains roughly in half in the last hour of trading. It closed 11 13/16 higher or 8% at 157 5/8.
Need another example? How about
, a Web hosting company. It splits on April 12. It traded as high as 137 in the last hour of the session before closing 8 3/8 higher, or 7%, at 126 1/8.
Finally, we leave you with
, a company that disappointed the Street when it didn't announce a stock split and the company's CEO even said there were no plans for a
split. Well, lo and behold, the company did announce a 2-for-1 split today and its stock soared on the opening to a high of 195 1/2. It ended the day up 9 7/16, or 5%, at 184 13/16.
was supposed to be the big news among IPOs today, but its debut was delayed by the
Securities and Exchange Commission
Late Thursday, iVillage was priced at $24 a share, and will begin trading Friday.
In other IPO news, Ben Holmes, president of
, a ranking and calendar service for IPOs, told
appeared to benefit from a relationship with
, an Internet news information and entertainment services website that is going public next week.
Holmes said Open Text, an Internet software company, will own approximately 885,000 shares of Mining Company. Holmes has no relationship with either company. Open Text closed up 2 1/16, or 9.5%, at 23 11/16.