Word: commscan
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Dates: during 1999-1999
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Sources: Wall Street Journal, CommScan, AP, ESPN, Washington Post
...weeks ago, Priceline.com started at $16 and shot to $69. If anything, the pricing of Net stocks is growing more off kilter. The average first-day gain for an Internet IPO has swelled from 30% early last year to 153% the first three months of this year, Commscan reports. Meanwhile, first-day gains in non-Net IPOs generally have been 10% to 20%, in line with historical averages. The gross underpricing of Internet IPOs this deep into a trend should tell you something: those closest to the companies don't believe the valuations are sustainable. Companies, underwriters and maybe...