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Technology Stocks : CMGI What is the latest news on this stock?
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To: Nick who wrote (395)4/16/1998 6:02:00 PM
From: D.J.Smyth  Read Replies (2) of 19700
 
based on Merrill analyst comments, not on xcit's earnings report as such (although he did say that yahoo, excit, lycos and seek will "be around for a long time to come" and suggested they were of great value. newspapers across the country carried an article which stated that the internet is growing at a rate of 102% per month, i'd think it was this associated press article which helped fuel some of the buying - and thus the buying was being created by mom and pop which are not momentum traders but "buy and hold" folks (generally speaking). usually wall street momentum traders get nervous and dump before they know the story. you get a house mortgage, visa cards, tapes, records, etc., everthing on the internet now and cmgi is sitting in the middle of it all
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