Nasdaq Internet Index Shows Promise
When we heard that there was a new Nasdaq Internet Index, it sounded like an interesting idea. We’re now even surer of that, as Nasdaq has identified the Index’s component parts. Google, Amazon, and most of the other companies you’d expect to see have all been included.
Credit appears to go to Trader Mike for discovering the list; it was hard enough to find that we’d begun to wonder if something sneaky might be going on. That doesn’t appear to be the case, however – among the 93 corporations that made the Nasdaq Internet Index are major names like Yahoo, Netflix, Jupitermedia, IAC, eBay, and Baidu.
Also, it’s impossible to complain about the Index’s performance – in its two days of existence, it’s risen from about $152 to $159 (although admittedly, the rest of the stock market has also had a nice Tuesday and Wednesday). Its ticker symbol, by the way, is QNET.
QNET might become a refuge for those who don’t feel like riding a single Internet company’s rollercoaster, or for those who don’t want to pony up over $690 for a single share of Google. On the other hand, it’s not perfect – NaviSite, which suffered some embarrassing (and serious) problems earlier this month, made the cut.