Subject category:
Finance, Accounting and Control
Published in:
2001
Abstract
The millennium year 2000 ushered in a new vision of technology and Internet companies hammering ''new economy'' stocks as investors fled these corporations in lieu of safer grounds. For the twelve months ending December 31, 2000, Internet stocks on average lost 77% of their value with dot-com layoffs rising 600% for the last six months of 2000. For 2001, the first months don''t seem any brighter for these new corporate pioneers of technology with the likely possibility of an economic recession taking form in the United States. During 2000, MP3.com also suffered several setbacks to its business. Setting the tone for the distribution of music, the company was faced with a multitude of lawsuits alleging copyright infringement. Negotiating with several of the music producers, MP3.com was poised to take advantage of their market niche and turn the young company into a profitable entity.
About
Abstract
The millennium year 2000 ushered in a new vision of technology and Internet companies hammering ''new economy'' stocks as investors fled these corporations in lieu of safer grounds. For the twelve months ending December 31, 2000, Internet stocks on average lost 77% of their value with dot-com layoffs rising 600% for the last six months of 2000. For 2001, the first months don''t seem any brighter for these new corporate pioneers of technology with the likely possibility of an economic recession taking form in the United States. During 2000, MP3.com also suffered several setbacks to its business. Setting the tone for the distribution of music, the company was faced with a multitude of lawsuits alleging copyright infringement. Negotiating with several of the music producers, MP3.com was poised to take advantage of their market niche and turn the young company into a profitable entity.