A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
The Internet Retailer Online Retail Index of 25 e-commerce stocks lost 3% last week.
It was a rocky week on Wall Street, especially for online retailers and e-commerce technology providers.
The Internet Retailer Online Retail Index of 25 e-commerce stocks lost 3.01%, falling even faster than the major indexes for the stock market as a whole. By contrast, the Dow Jones Industrial Average lost 2.02% and the Standard & Poor’s 500 Index fell 2.25%.
Only six stocks in the Online Retail Index advanced last week, not counting CyberSource, whose shares have been essentially flat since Visa Inc. announced plans to buy the online payment processor and fraud-prevention specialist. Akamai led the way last week, delivering a gain of 5.5% gain.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
- Akamai, 5.5%
- eBay, 2.7%
- Blue Nile, 2.1%
- GSI, 2.0%
- LivePerson, 1.7%
Here are the Online Retail Index stocks that performed least well last week and the percentage decline in stock price for the week:
- American Greetings, -10.5%
- U.S. Auto Parts Network, -9.9%
- DemandTec, -8.0%
- Systemax, -7.3%
- Overstock, -6.5%
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.