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Stock market woes slam e-commerce shares
The Internet Retailer Online Retail Index fell 2.8% for the week.
Editor in Chief
It was a bad week on Wall Street, and even worse for e-commerce stocks.
The Internet Retailer Online Retail Index, which tracks the stocks of 25 online retailers and e-commerce technology providers, declined 2.81% in a week when the Dow Jones Industrial Average fell 2.33% and the Standard & Poor’s 500 Index lost an almost identical 2.32%.
Bucking the trend was Netflix, which gained 3.5% and finished the week near its 52-week high. At the other end of the spectrum was 1-800-Flowers.com, whose shares lost 9.5% of their value a week after leading the index with a 9.3% gain.
It was also the final week on the Online Retail Index for Drugstore.com, as Walgreen Co. officially closed last week its previously announced acquisition of the online retailer. Joining the index next week will be Coastal Contacts, a web-only retailer of contact lenses and eyeglasses.
Here are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:
• Netflix, 3.5%
• LivePerson, 3.0%
• GSI, 0.0%
• Drugstore.com, 0.0%
• ValueClick, -0.2%
Here are the Online Retail Index stocks that performed least well last week and the percentage drop in stock price for the week:
• 1800Flowers.com, -9.5%
• Systemax, -7.1%
• PetMed Express, -6.3%
• DemandTec, -5.8%
• Keynote Systems, -5.6%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Bidz.com Inc., Blue Nile Inc., Bluefly Inc., DemandTec Inc., Digital River Inc., Drugstore.com Inc., eBay Inc., GSI Commerce Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., RealNetworks Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc. and Vistaprint Ltd.