Ticker Talk
Theglobe.com, a 1998 Internet IPO that helped spark the mania for the sector, said it received a Nasdaq market notice that the company fails to comply with the minimum bid price requirement for continued listing of its stock. That could lead to delisting from the Nasdaq National Market.
The company, whose shares (ticker symbol: TGLO) closed at 53 cents Wednesday, down 3.1 cents, before the announcement, said it requested a hearing before a Nasdaq Listing Qualifications Panel in an effort to retain its listing.
For the record:
12:00 a.m. Feb. 16, 2001 For the Record
Los Angeles Times Friday February 16, 2001 Home Edition Business Part C Page 3 Financial Desk 1 inches; 29 words Type of Material: Correction
TheStreet.com Stake--Investor Paul Allen’s stake in TheStreet.com has not changed since August, though he allowed an option to acquire additional shares to expire. An item Thursday misstated his stake.
In November 1998, Theglobe.com soared from $4.50 a share (split-adjusted) to more than $31 on its first day of trading. Many other Net IPOs would follow that pattern before the tech sector’s crash in March 2000. . . .
Microsoft Corp. co-founder Paul Allen has cut his stake in TheStreet.com Inc., an online financial news site, to 2.5% of outstanding shares from 10%. Allen’s private investment firm, Vulcan Ventures Inc., reported holding 670,167 shares in a filing with the Securities and Exchange Commission. That’s down from 2.67 million shares in August. TheStreet.com (ticker symbol: TSCM) rose 16 cents to $3.41 on Wednesday. . . .
World demand for gold last year was about the same as in 1999 at 3,281 tons, with a strong increase in purchases of gold for jewelry offsetting a sharp drop in purchases by investors, the World Gold Council said. Demand for gold among investors had risen sharply in 1997, 1998 and 1999 because of fears that the millennium changeover could trigger widespread computer outages and other technological problems. Demand dropped after the Y2K crisis failed to materialize.
