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Article: Shares of Fort Worth, Texas, Travel Site Give Weak Performance after IPO.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 10, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug. 11--FORT WORTH, Texas--Travelocity.com joined the tech stock market craze a little too late.
When the Fort Worth online travel site became publicly traded March 8, it opened at $47 a share.
But instead of skyrocketing and creating multi-millionaires at the Internet company, Travelocity shares have dropped steadily in the past six months to $12, even though the company added new features and launched a travel site for America Online users.
Travelocity -- one of the largest e-commerce sites on the Web behind Amazon.com and eBay -- outperformed analysts' expectations for its first and second quarters. But the stock has remained depressed ...