Lack of Web Deal Hits Shop at Home’s Stock
<i> Bloomberg News</i>
Despite the recent pullback of many Internet shares, a Net connection apparently still holds plenty of stock market currency. Look what happened Wednesday to one company that couldn’t hook up with a big online name.
Shares of Shop at Home, the third-largest home-shopping specialty retailer, plunged $6.44, or 32%, to $13.56 after the firm failed to announce an expected partnership with a Net directory. Instead, Shop at Home said it will open its own auction Web site.
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