The E-Commerce Times has added shopping portal ShopNow.com (Nasdaq: SPNW) to its “Top 10” Stock Index, a feature that tracks the stock prices for 10 public companies that represent the e-commerce industry.
The E-Commerce Times Index presents a daily snapshot of how e-commerce companies are performing in the market at any point in time. Today, for example, the Index increased 1.26 percent from 396.41 to a close of 401.50.
ShopNow.com went public on September 29, 1999 with an offering of 7.25 million shares at $12 (US$) per share, raising $77 million. Since its IPO, the company’s stock reached a high of $25.13 per share on October 30, 1999, but has recently dropped back to close as low as $16 per share on January 4, 2000.
ShopNow.com has links to more than 20,000 Web sites that sell virtually everything under the sun, making it a convenient starting point for an online shopping excursion. The company also owns CommerceTrust.com, which makes order processing and other services available to companies that want to sell online.
Industry tracking company Media Metrix recently ranked ShopNow.com as the 17th largest shopping site from Thanksgiving to Christmas in terms of unique visitors. The company had revenues of $23.5 million for the nine months ended September 30, 1999, losses of $47.2 million, and has a market capitalization of about $565 million.
In addition to ShopNow.com, the Index also includes Amazon.com (Nasdaq:AMZN), barnesandnoble.com (Nasdaq:BNBN), Beyond.com Corp. (Nasdaq:BYND), eBay, Inc. (Nasdaq:EBAY), Egghead.com, Inc. (Nasdaq:EGGS), eToys, Inc. (Nasdaq:ETYS), E*TRADE Group, Inc. (Nasdaq:EGRP), Open Market, Inc. (Nasdaq:OMKT) and priceline.com (Nasdaq:PCLN).