Stock Tickers: CMGI, ICGE, SFE
The short sellers are lining up their bets against CMGI (CMGI-NASDAQ). To add fuel to the fire, the shorts are also lining up bets against the other two ‘incubators’: Internet Capital Group (ICGE-NASDAQ) and Safeguard Scientifics (SFE-NYSE). CMGI earnings are coming out soon, it will be interesting to see if these short bets are right or wrong. CMGI shares are up almost 75% year to date and we don’t need to remind anyone of the internet bubble day prices in the stock. The company has been transforming itself into ModusLink as its operating unit, and its @Ventures unit is still alive as an Internet incubator and has been increasing its investments in alternative energy.
Stock (Ticker) MAY APRIL Change FLOAT%
CMGI (CMGI) 27.35M 22.48M 19.8% 5.9%
Internet Cap. (ICGE) 4.81M 4.64M 3.7% 13.7%
Safeguard Sci. (SFE) 6.62M 5.98M 10.69% 5.5%
Jon C. Ogg
May 25, 2007
Jon Ogg can be reached at firstname.lastname@example.org; he does not own securities in the companies he covers.