Net Losses

Plunging prices have left Internet investors battered--and asking again, What are these stocks worth?

In the world of Internet investing, few things are clear. But here's one: after last week's rout, dot.com stocks are 40% to 60% off their peaks, and investors are finding there is no safety net in Netland. For those with faith and a long investment horizon, discounted prices today are compelling. That's why the bloodbath didn't turn into a bigger catastrophe. Early last Thursday, Net stocks were in free fall and touching their lowest levels of the year. Enough investors suddenly viewed them as bargains so that prices turned up.

But for many, Net stocks remain the epitome of pure speculation....

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