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Lastminute.com stock continues to plummet

By pwhysall in News
Fri Mar 24, 2000 at 11:29:39 AM EST
Tags: Internet (all tags)
Internet

This side of the pond, the big internet news of the week has been the partial flotation and subsequent steady sinking of the glorified cancellation broker, Lastminute.com.

Lastminute.com floated last week, valued at over 733 million at the end of the first day's trading. Yesterday, the company was only worth 420M.

The question is, given this and the flop that was the flotation of Lycos Europe, which ended up 10% down on the first day, have investors finally realized that it's companies that make money that make money?


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Lastminute.com stock continues to plummet | 9 comments (9 topical, editorial, 0 hidden)
The problem with lastminute.com is ... (none / 0) (#2)
by hattig on Thu Mar 23, 2000 at 12:05:59 PM EST

hattig voted 1 on this story.

The problem with lastminute.com is that they provide a service that is replicable with not too much effort (big business wise), they are only the first! I have used them in the UK, and I found the service to be very good and efficient (They couriered my flight ticket to the airport for me to pick up later that day), but they don't do any booking themselves - they are just resellers who use various agents to do the actual booking. Cut out the middleman, and you have a much more competitive service.

Lastminute.com will survive though, the market is jittery though at the moment, but they are probably worth 200-300 million at best, to be realistic (not that I have any experience or qualification to say that).

Woaugh could be the end of the net ... (none / 0) (#3)
by kraant on Thu Mar 23, 2000 at 05:53:01 PM EST

kraant voted 1 on this story.

Woaugh could be the end of the net speculation bubble...

Hrrrrrm I dunno the whole point of investing in those things in the first place is that they are losing money in the short term. but in the long term they will hopefully have a strangle hold in the market... At least that's why the big media is willing to blow hundreds of millions of dollars on the net with no return...
--
"kraant, open source guru" -- tumeric
Never In Our Names...

What the hell is Lastminute.com? I ... (none / 0) (#6)
by Velian on Thu Mar 23, 2000 at 06:05:35 PM EST

Velian voted -1 on this story.

What the hell is Lastminute.com? I don't live in Europe, and neither do most people online (definitely most people who visit here).

Re: What the hell is Lastminute.com? I ... (none / 0) (#7)
by Fish on Fri Mar 24, 2000 at 12:01:11 PM EST

that's not the point. the point is that people speculating and investing in (even huge) internet companies are making a loss, even when it seems to be a good choice. lastminute.com certainly caught the eye of the market, it was massively oversubscribed for shares and consequently issued 35 per person.

to answer your question, lastminute.com is a company that specialises in arranging travel for people at the last minute, i.e. going on holiday/trips without booking months in advance.



[ Parent ]

Re: What the hell is Lastminute.com? I ... (none / 0) (#8)
by rusty on Fri Mar 24, 2000 at 01:38:51 PM EST

Actually, more of your fellow readers live outside the US than you might suspect. And at the very least, most of the most vocal ones do.

____
Not the real rusty
[ Parent ]
Re: What the hell is Lastminute.com? I ... (none / 0) (#9)
by Fish on Sat Mar 25, 2000 at 09:49:51 AM EST

And its the vocal ones that count on a site like this :-)

[ Parent ]
Yay! This is somewhat similar to th... (none / 0) (#4)
by fluffy grue on Thu Mar 23, 2000 at 09:41:53 PM EST

fluffy grue voted 1 on this story.

Yay! This is somewhat similar to the stock experiment I mentioned last week. My conclusions: bandwagon hype stock only works the first few times until enough investors get burned that only the true suckers stay on. I've given up on winner-picks.com's stock picks, and instead am experimenting with AboveTrade, which uses lots of scary and customizable heuristics to issue buy and sell recommendations based on trends, interest rates, and the current market health. Very cool; you can configure a stock advisor for each individual stock you're interested in, and it'll automatically mail you in the evening if any of the recommendations change (the intent is that you issue a trade to be executed at market open, rather than trying to do day-trading).

So far I scoffed at one of its recommendations and got burned (specifically it was with one of the winner-picks picks from last week); it said I really should issue a sell order for market open, and I figured it was just a fluke in the heuristic. If I had sold when it said to, I'd have gotten my whole $500 investment back with a little spare change. But I didn't, and I didn't come to my senses until it had irrevocably dropped to the point that I lost over $250, and I figured I should just cut my losses.

I'm taking its open sell recommendations with a grain of salt, though... for example, it recommends that I sell all of my UVN holdings (though admittedly, this sell recommendation was issued about the time that UVN had peaked at 112), but right now UVN's on a nice upward trend. Just to be safe I issued a stop order for a few points below its current position in case it does end up becoming true (right now it's on the second upstroke of a characteristic "M" curve). I'm glad I did this same exact thing for my WLA holdings though; it said to sell, I put in a stop order for a few points below, and the next day the stock dropped quite a bit, and right now it's on a downward trend.

Of course, it's a tool for long-term investing, and they make no claims otherwise. They're also registered as a financial advisor with the SEC, and the prototype for the system was apparently used to manage a multi-million-dollar multi-national stock portfolio for a few years with GREAT success.
--
"Is not a quine" is not a quine.
I have a master's degree in science!

[ Hug Your Trikuare ]

I expect to see another good econom... (none / 0) (#1)
by ramses0 on Thu Mar 23, 2000 at 10:25:28 PM EST

ramses0 voted 1 on this story.

I expect to see another good economic/market discussion come from this. Good questions to be asking.

--Robert
[ rate all comments , for great justice | sell.com ]

"...have investors finally realized... (none / 0) (#5)
by eann on Fri Mar 24, 2000 at 11:29:39 AM EST

eann voted 1 on this story.

"...have investors finally realized that it's companies that make money that make money?"

Not likely.

Our scientific power has outrun our spiritual power. We have guided missiles and misguided men. —MLK

$email =~ s/0/o/; # The K5 cabal is out to get you.


Lastminute.com stock continues to plummet | 9 comments (9 topical, 0 editorial, 0 hidden)
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