The dramatic recovery of a fallen dotcom superstar to share of the year has raised questions about how a company with annual revenues of £7m can attract an earnings multiple higher than Google’s.QXL Ricardo shared equal billing with the likes of lastminute.com and Scoot.com as an internet wonderstock at the height of the internet boom. But financial gravity brought the online auctioneer down to earth as its performance failed to meet impossible expectations. QXL was the inaugural British member of the “99% club”, named in tribute to web companies that shed 99% of their stockmarket value. In April 2000 it was a £2bn stock with a share price of 800p. Eight months later it was worth £62m at 6.5p.

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Posted: 02|14|06 at 9:11 am. Filed under: Auction News.