TY - JOUR T1 - Hype and Internet Stocks JF - The Journal of Investing SP - 53 LP - 63 DO - 10.3905/joi.2001.319462 VL - 10 IS - 2 AU - Yaron Brook AU - Robert J. Hendershott Y1 - 2001/05/31 UR - https://pm-research.com/content/10/2/53.abstract N2 - 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. ER -