Friday, March 09, 2007

rumblings from a cult stock.



CMGI, the leper of the tech stocks, is set to "BUY."

CMGI rode the crest of the wave of the tech boom until it crashed.

once trading near $200 a share in 2000, CMGI screamed downwards to less than a dollar a share. as recently as august, 2006 it hovered below a dollar.

no one would touch it. analysts, who used to wet themselves just to talk about it, wouldn't cover it. it was a nonentity.

but now people are taking notice again. CMGI has been profitable in the last two quarters, and has a viable business plan other than "let's throw lots of darts with a blindfold on and see if we hit a bullseye!" then a leading hedge fund started snapping up shares. analysts started chattering about it again.

will CMGI get a second chance?

update: the rumble gets louder.

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