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Technology Stocks : CMGI What is the latest news on this stock?
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To: player who wrote (817)7/28/1998 6:41:00 PM
From: charger   of 19700
 
One thing you have to consider is that this stock, along with almost every other internet stock, nearly tripled off the low in early June. It took 6 weeks to go from a 800M to 2B market cap...that's a lot of juice. So in a market environment like this, internet stocks are the most ripe fruit to get picked from the profit tree. Eventually, once the market settles down and the speculative juices start flowing again, they will take off. What will it take to turn the market around and on to new highs? I don't really know, because earnings season is behind us with nothing but uncertainty ahead. Breadth is at a six month low, and Asia still sucks. My guess is that Japan will have to lead the way, or we are screwed. That's like asking your third string quarterback to lead a last minute come from behind touchdown drive!
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