Feeds

Freeserve shares drop below offer price

Beginning of the end or just market jitters?

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

Despite being massively over-subscribed when it floated in July, Freeserve's shares fell yesterday below their offer price. From a starting point of 150p in July, Freeserve soared to the dizzy heights of 244p in early August, but at one point yesterday dropped to 135p. While some pundits are heralding this as the beginning of the end for the markets' love affair with all things Net-related, more realistic causes for the price fall could be found in concerns over Freeserve's ability to hang on to its newly-found customers. After shaking the market up when it launched its free Net access service, Freeserve has witnessed more than 100 free ISPs enter the market. Perhaps the most significant of which has been AOL's Netscape Online. When it launched, Freeserve claimed it would woo customers from AOL and others in droves. But the launch of the free Netscape Online service has seen Freeserve customers turn tail and sign up with AOL's subsidiary. This is not the first time the Net stock bubble was supposedly about to burst and it probably won't be the last either. ®

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.