×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

Investors name their own price for Priceline.com, Yahoo! stock

Published on .

Priceline.com, the name-your-price online retailer of airline tickets, hotel rooms and other services, became the latest dot-com to issue a revenue warning that it would not meet third-quarter expectations and, as a result, had to face investors' wrath. Priceline's shares dropped 42.3% to $10.75 at the end of trading Sept. 27, setting a new 52-week low, after alerting analysts that September airline ticket sales were lower than expected, resulting in a $20 million decline in revenue. In the third quarter of 1999, Priceline.com reported revenue of $152.2 million. The news triggered sell-offs in other leading dot-com stocks, namely Yahoo!, whose shares fell below $100 for the first time since November 1999. Yahoo!, whose stock traded as low as $88, ended the day's trading at $90.38, a 12% drop.

Copyright September 2000, Crain Communications Inc.

In this article:
Most Popular