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Internet Stock Update: September 2005

Internet Stocks were up a strong 3.4% in September vs. the NASDAQ's 0.0% flat line. Tom Online, the Hong-Kong based chinese portal and moble entertainment firm was the month's biggest gainer at 28.8% thanks to general enthusiasm for Chinese-related internet stocks last month in the wake of Mary Meeker's bullish report on the sector.  The biggest loser was online Poker site Party Gaming, which was down a whopping 42% (shaving a cool $5BN off of its market cap) after talking down its revenue growth prospects on its first post-IPO earnings call.

From a valuation perspective, the weigthed average P/E of the internet sector was 40.5 at the end of the month and the weighted average Price/Sales was a hefty 7.8X.

There were two Internet related IPOs in September.  WedMD was spun-off from its parent as a stand alone company while, one of the largest online casino/poker players had a disappointing IPO that was dragged down by the turmoil at Party Poker.

For a detailed breakdown of all the stock statistics including a record of all of the M&A in the space, click here to download an Excel spreadsheet with the data and click here to get Microsoft's automatic stock quote downloading plug-in for Excel if you don't already have it.

The spreadsheet has been improved lately with detailed fundamental financial data and ratios for almost all of the stocks.

October 5, 2005 in Internet, Stocks | Permalink


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The thoughts and opinions on this blog are mine and mine alone and not affiliated in any way with Inductive Capital LP, San Andreas Capital LLC, or any other company I am involved with. Nothing written in this blog should be considered investment, tax, legal,financial or any other kind of advice. These writings, misinformed as they may be, are just my personal opinions.