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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: daffydog who wrote (16205)	2/1/2000 6:33:00 AM
From: Micawber	Read Replies (2) \| Respond to of 19700

Feb 01, 2000 CMGI: Sell-Off Creates Buying Opportunity Director of Research: Dave Sterman (2/1/00) Shares of CMGI (NASDAQ:CMGI - news) have traded sharply lower in recent weeks, falling 32% from their all-time high of $163.50 reached on January 3 to a recent $111.19. The sell-off is rather surprising, given that it has been ?business as usual? at CMGI, though many Internet stocks have seen rather aggressive selling this month following their phenomenal gains in the fourth quarter of 1999. In a previous update, we noted that CMGI was looking abroad for its next rounds of investments. The company has been especially active in Asia, where its international ventures arm has been quite busy. On January 25, CMGI pushed further into Asia through a joint venture with Cyberworks, which is widely considered to be the premier technology venture capital firm in Asia. The joint venture will manage and integrate CMGI?s 18 existing stakes in the region. In all, CMGI has made 63 investments outside the U.S., and hopes to boost that figure to 120 this year. Prudential Securities analyst Paul Merenbloom also emphasized CMGI?s global ambitions in a recent bullish report. He sees the company replicating its U.S. track record on the foreign front. ?CMGI?s kiretsu [sic] has developed critical mass and we believe will prove highly portable to Europe, Latin America, and the Pacific markets,? he wrote. Merenbloom expects the shares to reach $200 within the year and $500 within two years. The outlook for CMGI remains quite bright. And the recent sell-off should be seen by investors as an attractive entry point. Though the stock remains vulnerable should the broader markets weaken, the stock offers plenty of upside based on our expectations of positive news flow and the continual emergence of new catalysts. We enthusiastically reiterate our buy recommendation. Updated on January 31, 2000 with CMGI at $111.19. Recommended on December 11, 1999 at $97.03. (Magic 25 is a diversified portfolio of stocks that Individual Investor believes will outperform the market over the course of the year