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Stock Watch: New Auction Service Boosts Fashionmall.com

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Stock Watch: New Auction Service Boosts Fashionmall.com

By Andy Wang
E-Commerce Times
09/20/99 12:00 AM PT


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For one day at least, eBay's loss was online apparel retailer Fashionmall.com's (Nasdaq: FASH) gain. Shares of Fashionmall.com rocketed nearly 36 percent on Friday, gaining 1-29/32 to 7-1/4 on the news that it was launching a new auction service that will be part of the Fairmarket network. Fashionmall.com's Outletmall.com site will develop an auction service that will be powered by Fairmarket.

Before this news was announced, shares of Fashionmall.com were near their lows of the year. Even after the climb, the stock is trading at less than half of its high of 15-7/8. It currently has a market capitalization of $54.4 million, which is miniscule compared to many e-commerce retailers. Considering that Fashionmall.com also has distribution deals with Yahoo!, Amazon.com, America Online, the Microsoft (Nasdaq: MSFT) Network and Excite, this company might be worth a look.

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