PT  - JOURNAL ARTICLE
AU  - Yaron Brook
AU  - Robert J. Hendershott
TI  - Hype and Internet Stocks
AID  - 10.3905/joi.2001.319462
DP  - 2001 May 31
TA  - The Journal of Investing
PG  - 53--63
VI  - 10
IP  - 2
4099  - https://pm-research.com/content/10/2/53.short
4100  - https://pm-research.com/content/10/2/53.full
AB  - Between March 30 and April 14 of 1999, the stock price of a small Internet-only thrift, Netbank, jumped from $63 per share to a peak of $249 (from a low of under $11 in October 1998). The authors find that 14 “brick and mortar” banks hat made Internet announcements between April 5 and 16 of that year temporarily jumped an average of 80.2% during the middle of the month on trading volumes that average over 100 times normal levels. The analysis suggests that hype plays an important role in Internet stock pricing, and that investor and corporate hype have somewhat different effects.