During the Internet bubble, there was this one stock that was insanely powerful – – CMGI. It was some kind of “roll up” of little Internet companies, and the (idiotic) investing public went crazy about it.
As the bubble was bursting, however, people began to refer to CMGI as “Can’t Make Good Investments”, and it undid pretty much all of its multi-thousand percent gains. For no particular reason, I was wondering whatever happened to them, and sort of like how the Weinstein Company is changing its name, CMGI did the same……….now known as ModusLink Global Solutions, whatever the fuck that is supposed to mean. Here’s the arithmetic chart:
Pretty extraordinary, isn’t it? Incidentally, for all of you who are ga-ga about stocks that make news highs all the time, this is what CMGI looked like during the first phase of its life. Just sayin’.