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

To: Micawber who wrote (18741)	12/20/2000 9:41:28 AM
From: John Carragher	Respond to of 19700

Last year's Internet star, CMGI, braces for shareholders By Tim McLaughlin, Reuters, 12/20/2000 BOSTON -- At last year's annual shareholders meeting, CMGI Inc. (CMGI.O) Chairman David Wetherell seemed so invincible as CMGI rode the cresting wave of ``New Economy'' mania that he was treated like a rock star. But at this year's annual meeting today in Boston, CMGI investors will most likely want to know why Wetherell and his holding company of Internet companies turned out to be so wrong in 2000. After trading at $163.50 in early January, shares of CMGI have lost nearly 95 percent of their value, trading Tuesday on the Nasdaq just below $8. At last year's meeting, shareholders implored Wetherell to eat his vegetables, and some even wondered if he was being paid enough. ``I think we've got the best business model in the world for a new economy,'' Wetherell told last year's audience. Indeed, CMGI's stock returned 870 percent at the time of the annual meeting last December. Instead of more than doubling its portfolio of Internet companies to 120 in 2000, as Wetherell predicted, CMGI is consolidating and cutting its losses. CMGI is exiting Web entertainment site iCast and free Internet Service provider 1stUp.com. CMGI's majority-owned companies such as search engine AltaVista, online marketer Engage Inc. (ENGA.O) and Web hoster NaviSite Inc. (NAVI.O) are now retooling just to survive. When the market for initial public offerings dried up for Internet issues, effectively ending the source of CMGI's go-go juice, Wall Street suddenly wanted to know how soon CMGI would become profitable. During the first quarter of fiscal 2001, CMGI's operations continued to put up new economy-like numbers, recording an operating loss of $896.7 million on revenue of $366.1 million. Wetherell assured investors last week CMGI has enough cash and publicly traded stock, about $1.7 billion, to fund its operations another 30 months.

To: Micawber who wrote (18741)	12/20/2000 10:48:58 AM
From: 10K a day	Read Replies (1) \| Respond to of 19700

LOL! ...uhummm....it's not worth anything to me...But I can sell the Junk to someone else... I think the old school brokers just hate this ONLINE stuff ....things will never go back to the way they were...WALLSTREET waiting for the LYNCH MOBS....(everybody gets a salad shooter for christmas)