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Technology Stocks : CMGI What is the latest news on this stock?
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To: bob zagorin who wrote (19559)10/3/2006 2:44:07 PM
From: Arthur Tang   of 19700
 
The short interest of Cmgi is at about 22-23 million shares.

Daily trade is 3,255,000 shares.

Outstanding number of shares are no longer 600 million shares but perhaps 510 million shares.

We don't know what is market makers' cost of the shorted stock. It could very well be $1.25 or so; from the way stock drifted down and never move up. There are still too many buyers.

Technical analysis will bear this out. At just about $1.00; market makers have very little room to take out the weak hands unless it goes into pennies.

Fundamentally, management is just trying to stay solvent, not having any business plan that is convincing.

Maybe if John Lawler sees this analysis, he might start a business plan to rebuild the cmgi dream?>
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