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Technology Stocks : CMGI What is the latest news on this stock?
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To: HG who wrote (5207)3/6/1999 11:42:00 AM
From: Jenne  Read Replies (1) of 19700
 
CMGI Inc (CMGI) develops and operates Internet and direct marketing companies. In addition, the
company funds, develops, and takes a hands-on role in startup Internet firms through @Ventures, its
investment arm. CMGI has sheparded some of the Web's biggest sites, including Lycos and virtual
community GeoCities. You may remember that Stockwinners correctly anticipated a CMGI stock split, in a
Rumor Mill entry last December. Well, we are hearing rumors of another split and there is evidence
supporting the possibility: (1) The last two splits were announced when the stock price was just short of
$100 per share. Apparently, the company prefers a two-digit price. At present, shares are going for $147 1/4,
up $7 7/8 on the day. (2) There are now 46.2 million shares of CMGI outstanding. At the last shareholders
meeting (12-17-98) the company went to the stockholders for authorization of 100 million shares. That
means there are enough shares to allow for a 2-for-1 split. (3) The last split was declared by the Board of
Directors, at about the time of the last quarterly earnings announcement. Quarterly earnings are next
scheduled for release in less than a week (3-11-99) and the CMGI Board is discussing company business
today. Despite that fact that CMGI last split its stock only two months ago, we think the Board is mulling the
matter over again today. We could have a split announcement shortly.
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