NEW YORK (Reuters) - Shares of eToys Inc. (NasdaqNM:ETYS - news) plunged on
Monday on a report that said holiday sales are far below expectations, calling into question
the company's ability to survive in its present form without new financing.
Shares of eToys were down 71 percent, or 23/32, at 9/32 on the Nasdaq Stock Market in
early morning trading.
posted on December 18, 2000 11:38:19 AM
They are all over the internet banners today advertising their big 75% off toy sale. Of course everything was marked up 100% and then reduced 75% so it's not that great of a sale.
Maybe it's a gimmick - "Lets See if We can get our stock price drop to match our sale price drop!"
posted on December 18, 2000 12:00:06 PM
Somewhat off topic... CNN is having some spotlight (within a regular show I think) on what they called the "dot-com crash" (IIRC), tonight at 6:30 Eastern. I'll be curious to see what they have to say about the downturn. (I have no affiliation with CNN or any cable companies, just thought it might be of interest. )
posted on December 18, 2000 02:56:09 PM
eToys is painting an extremely bleak picture. It says it might run out of money by March (unless someone makes a big investment) and might have to shut down.
posted on December 18, 2000 06:23:17 PM
etoys is a natural and deserving failure - their principal talent so far has been in sweet talking VCs and burning their money.
posted on December 18, 2000 10:12:31 PM
etoys rips buyers off with their excessive fees. Their shipping is way higher than everyone else and then they charge sales tax even though they don't have a store in my state. Where does the sales tax go? Into their pockets I bet.
I cancelled my toy order when I got to the end of the checkout and saw all the extras.
