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Internet Agencies See Stocks Jump on Tech Rally

News, 20 April 2001

Internet ad agencies yesterday benefited from the modest bull trend on the world stock markets.

Although the Dow Jones Industrial Average jumped only 0.73%, a series of upbeat earnings reports from computer companies such as Apple Computer and IBM saw the technology-heavy Nasdaq rise 4.93% yesterday to close at 2181.97.

The buoyant performance by tech stocks pushed up the share values of various online agencies: saw its stock jump 20.41% to $1.77; Modem Media and Organic both rose 15.38% to close on $3 and 45 cents respectively; and Razorfish leapt 34.62% to close on 70 cents.

News source: Advertising Age - Daily Deadline