A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
GSI Commerce shares gained 15.2% last week after the company announced it would provide the e-commerce platform for Mattel. Otherwise, it was a disappointing week for e-commerce stocks, as the Internet Retailer Online Retail Index declined by .9%.
E-commerce stocks trailed the broader market last week. The Internet Retailer Online Retail Index fell .9% for the week, while the Dow Jones Industrial Average gained nearly .5% and the Standard & Poor’s 500 Index fell just under .2%.
But it was a good week for GSI Commerce shares, which hit a high for the year after the company announced it had won a deal to provide the e-commerce platform for four new retail web sites to be launched by toy maker Mattel Inc. GSI gained 15.2% for the week. However, it was one of only nine stocks among the 25 in the Online Retail Index to advance.
For the year, the Online Retail Index is ahead 78.6%, compared with 20.8% for the S&P; 500 and 17.6% for the Dow.
Here are the best-performing stocks last week in the Online Retail Index and the percentage price increase for each:
- GSI, 15.2%
- Keynote Systems, 7.9%
- Systemax, 7.2%%
- Drugstore.com, 5.1%
- LivePerson, 4.7%
Here are the Online Retail Index stocks that performed least well last week and the percentage decline in stock price for the week:
- Bidz.com, -11.0%
- United Online, -10.9%
- VistaPrint, -7.9%
- RealNetworks, -6.5%
- DemandTec, -5.9%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Art Technology Group Inc., Bidz.com Inc., Blue Nile Inc., CyberSource Corp., 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) and VistaPrint Ltd.