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Technology Stocks : CMGI What is the latest news on this stock?
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To: keta who wrote (4774)2/14/1999 12:41:00 AM
From: Stuart C Hall  Read Replies (1) of 19700
 
CMGI board members discussed the matter at a meeting late Wednesday and voted against the transaction unless the price bounces back to the $127 range where it was before the deal was announced Tuesday, an executive close to the talks said.

This is the error for which CMGI was punished. The wonderkids left themselves vulnerable and now have to negotiate from a stance of reduced power. In hindsight I'm disappointed they didn't put in a better protection clause should the market dump.

CMGI should make sure Wall Street focuses on: CMGI says it had a 24,926% return on its $3.8 million investment in Lycos as of Jan.
29. It owns 5.74 million shares. Even at reduced market value, they made a bundle.

A vote is expected in three to six months.

I HATE THIS STATEMENT. We could be wearing this albatross for several more months.
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