IAC Interactive
While many investors want to value IAC Interactive (IACI: 25.85 0.00%) simply on their cash balances, savvy investors have been enjoying the ride in 2010. Since the beginning of the year, IAC’s shares have gained 12.6% and closed Monday at $23.07.

Web MD
Following on last year’s 63% gain, WebMD’s (WBMD: 51.46 0.00%) stock is off to another hot start this year. The health content network has seen their shares gain another 13.9% since the beginning of 2010 and closed at a new 52-week of $43.84.

Netflix
The Netflix story never seems to grow old. After gaining 84% in 2009, the internet stock is up an amazing 26.5% already in 2010. The company continues to outperform Wall Street’s expectations and investors may be eyeing double-digits soon.

Priceline
In 2009, Priceline’s (PCLN: 313.85 0.00%) stock nearly tripled in price. However, investors aren’t taking profits just yet. The stock is up 9.2% again in 2010 and today closed at a new 52-week high of $238.54.

Shutterfly
Finally we come to Shutterfly (SFLY: 24.08 0.00%) which today closed at $20.23. The internet stock suffered through a 78% drop in their share price in 2008. However, they rewarded investors with an amazing 155% return in 2009 and their shares are up 13.6% already in 2010.

With the exception of IAC Interactive, these internet stocks have delivered some very gaudy returns for investors over the last year. However, as the economy continues to improve and money flows back into the stock market, it appears as though they may still have room to run.