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Technology Stocks : CMGI What is the latest news on this stock?
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To: F50 who wrote (10794)6/23/1999 11:51:00 PM
From: James Thompson  Read Replies (2) of 19700
 
Joe - Today I read several posts from CMGi long- and short-timers. The main concern was the obvious change in CMGi's business plan, concern over if the right decision was made in this Alta Vista deal. consider the following:

1. Evolution in the net sector is accelerated when compared to the rest of the market. Cycles peak and dip much quicker, new companies arrive and old companies evolve. If CMGi refuses to morph with the rapidly changing sector it will indeed become a flash in the pan.

2. Concern over net IPOs. During the past six weeks when the net market was at a seasonal low, interest rate fears abounded, investors were cautious, nervous, etc. The big news was that high-flying net IPOs were a thing of the past, the net bubble had burst, the market was saturated, et. Well, my take was that the general nervousness and caution resulting from the concerns expressed above were the reason for poor performance in net IPOs. When the concerns are replaced with confidence the volatility of the net IPOs will return, and in fact such a return was widely reported today in the media.

3. Greed. The net sector has proven to be a great money-make for many forward-looking investors and traders in the past 18 months or more. Legitimate market crisis or temporary down cycles aside, when the general confidence returns to the marketplace nobody will want to be left in the dust and both high-flying net stocks and IPOs will return.

For a great day tomorrow -- still waiting for my IPO code.

Jim
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