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Technology Stocks : CMGI What is the latest news on this stock?
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To: Hands Off who wrote (8431)5/20/1999 11:37:00 AM
From: bargainman  Read Replies (1) of 19700
 
Marshall -- thanks for posting the link to the Fool article. It expressed the usual cautions about internet speculation but was rather narrow in scope. And for the umpteenth time Wetherell is tweaked for rejecting the Lycos/USA deal despite selling Lycos shares in January for $52. You simply cannot equate a decision last January to create some liquidity to market conditions now. But the Wetherell critics seem determined to ride that hobby horse to death. And of COURSE anytime you have this kind of volatility in a stock or a sector the speculators come running. The market is home to all kinds of critters. Conditions are constantly changing, as the Fool Boys learned from their Iomega adventure. You didn't hear them complaining about speculators when Iomega was shooting upward at a fantastic rate. I don't think, however, that he correctly reads what Wetherell and CMGI are all about. True, one purpose of CMGI is to maximize share prices on companies seeded by the venture side. But CMGI is also building toward a group of operating companies that will be well-situated to capitalize on the full gamut of Internet opportunities. Those of us who plan to hold this stock for the next several years will do very well, I believe. Those who plan on reaping big profits short term by speculating on the stock will be riding the terrifying rollercoaster of volatility for some time to come. Some will win. Some will lose.
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