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

To: Don Pueblo who wrote (5463)	3/9/1999 5:14:00 PM
From: stock_bull69	Respond to of 19700

Interesting article on CNN/FN regarding todays wild ride for CMGI: NEW YORK (CNNfn) - The disgruntled defection of a board member at Lycos led to head-scratching among investors Tuesday, in a day marked by calm at many other tech issues. The Internet venture company CMG Investment (CMGI) shot up then closed down 5-1/4 to 194-7/16, after soaring as high as 226, after Chief Executive Officer David Wetherell resigned from the board of Lycos (LCOS), the web portal mulling a buyout offer from USA Networks (USAI). Wetherell voiced distaste for the complex buyout offer, which has been followed by a rapid drop in Lycos shares. CMGI is Lycos' biggest shareholder, with a 20 percent stake. The resignation frees up Wetherell to fish for other possible buyers, and that put the wind in shares of Lycos, which rose 12-3/8 to 96-1/4. "Obviously, (CMGI) stock should be up with Lycos," said Brian Hill, an analyst with Adams Harkness, said, referring to CMGI's one-fifth stake in the portal. But he said investors may just be looking to cash in on recent profits. "There sure are a lot of people getting nosebleeds up at this height" of CMGI's stock price, Hill said. "Investors may be pulling back from the table."