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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 98.00+3.1%3:35 PM EST
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To: TH who wrote (22757)12/12/2000 12:16:14 PM
From: Puck  Read Replies (2) of 28311
 
For anyone interested in learning more about what motivates analysts like Blodget in their public stock recommendations and how perverted their industry is, I would highly recommend reading this Washington Post article, which is a day in the life of Henry Blodget, published last April, and cited in the Motley Fool article Thurston Howell has aired again:

washingtonpost.com

Since ML recently downgraded INSP, I thought it would be useful to place their downgrade in a little perspective. According to the Washington Post article, ML/Blodget downgraded Inktomi about a year ago, and it subsequently doubled in price within a month:

It's a difference the market frequently misses. Last Oct. 22, Blodget downgraded the Internet infrastructure company Inktomi from an intermediate term "accumulate" to "neutral." (He kept his long-term "buy" rating.) It was the Ax in action: Inktomi immediately fell 15 percent. But within a month, it had nearly doubled.

"We were wrong on Inktomi," he says now. "It's very painful to be wrong, to say 'sell' and it goes up. It causes a lot of animosity with the company, with shareholders, and you weren't even right."

These guys certainly aren't infallible in their opinions (or even mostly right).
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