REGARDING: CMGI's action today IMHO
PREFACE: This post is made with the idea of looking beyond the general condition of the NASDAQ this week so far.
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I think it might be wise (as much as anybody here would hate to admit - including me) to prepare for the fact that CMGI could have already (NOW, I SAID "COULD HAVE") assimilated the news of the IPO.
In terms of a "split", I've stated before that nothing has been substantiated by the company that we'll have one as of yet, and it would be foolish to base your purchase OR EXPECTATIONS on this matter.
Remember in most cases, stock prices react to news/rumors before it actually happens. If CMGI has rocketed after IPOs before, it may again. However, it is reasonable to assume this constant will change and therefore happen less and less.
I must admit, I am however disappointed CMGI has not held up better thus far despite what has happened in the general market. With the earnings report, the coming IPO, acquisitions & announcements of dealings with other companies, and the latest strong buy recommendations - I believe we should have held up better thus far.
It tells me one thing (unless there is something I don't know):
1. We may hit our high for the moment and we are adjusting from the market already assimilating this good news of late (earnings, IPO, etc.).
2. We are being manipulated to no end ( But I don't think this is the case).
Regardless, the whacking we are taking is pretty heavy. I am NOT of the belief it has to do mainly with options expiring and a high NAZ - not this much of a price drop. We should have sustained the $130ish area.
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Now, coming about full circle - we will unfortunately have to wait until next week (if you can hold on that long) to begin seeing CMGI show it's true colors. This week has WAY TOO MANY variables to assess what is happening out there. |
