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Technology Stocks : CMGI What is the latest news on this stock?
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To: Saul Feinberg Jr. who wrote (79)3/23/1997 6:35:00 PM
From: blast_investor   of 19700
 
There are reasons this this kind of low price now.

(1) tech bear bear market, overvaluedness of internet search engine like lycos in downtrend. CMGI was down sharply from $40 to now. it is perceived as risky highflyer ( lycos is highflyer, CMGI is not).

(2) little street coverage. investors view CMGI as another internet stock, they see CMGI will have negative earning next year as terrible shaped company with terrible growth. They do not understand CMGI business model is venture business, earning isn't important things. If CMGI sell lycos now to another company, CMGI will get cash of 100 + million immediately. Buying and selling company is true nature of CMGI business that few understand.

(3) too much news release. This is one I want to blame CMGI/lycos. They saturated market with news release almost everydays. This gives me bad feeling of hyping or stock promotion by CMGI. CMGI has no need to release every bit of non-important news.

My opinion is: CMGI should sell lycos as soon as possible to another company. I do not believe lycos will fly soon with current sky-high value. Maybe CMGI should persuade Microsoft to buy lycos (my wishful thinking). We will see CMGI stock a huge jump once CMGI sold lycos holdings. CMGI is venture company of buying and selling startups and I do not see the value of holding a mature overvalued company like lycos. Maybe you guys with large CMGI shares should ask company in the next stock shareholding meetings to clarify company's intention of keeping lycos holdings.

Henry
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