if true someone at CMGI is out of a frigin job....and this guy while seemingly an honest guy isn't to smart
Message 12390494
Hey Mark,
I'm a long time (15 month) CMGI trader, and I'd like to say that your well thought out posts have assisted me in
making some wise decisions with CMGI. This stock has been so great to me lately. Speaking of which, one of
my favorite friends has been working at CMGI for the last 7 months, and to my frustration has kept his mouth
completely shut, at least until we chatted early last week. Apparently, CMGI will be announcing another
acquisition this Wednesday (the 29th), with at least one more to follow in early January. The gist of the
conversation was that CMGI will be announcing the acquisition of Firstwave Technologies (nasdaq:FSTW,
www.firstwave.com) this Wednesday for a price of approximately $60 mil, which values the stock at a little
under $12 if I made my calculation correctly (wouldn't it be $60 mil divided by the number of outstanding
shares, which is about 5.2 million?). FSTW has a 52 week high of 9.2, and is currently at about 3. When the
announcement comes out does this mean that FSTW will probably go to 12, or somewhere inbetween until the
deal closes? Is it the case the CMGI will also go up on Wednesday?
I've picked up about 5000 more shares today, increasing my total holdings of FSTW to 45,000 shares, which is
about 40% of my portfolio value, and I already own 1,000 shares of CMGI (most recently bought at 120), so
I'm dying of anticipation. Anyway, I recommend that you take a look at this, and enjoy...
-Electroman |
