Feeds

Freeserve shares drop below offer price

Beginning of the end or just market jitters?

  • alert
  • submit to reddit

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.