Stocks Under $10: CMGI (CMGI)

Investing

Published: November 28, 2007 9:47 am

Last Updated: March 26, 2020 12:36 pm

CMGI Inc. (CMGI) has just become eligible under the "10 under $10" with yesterday’s drop to $9.97. The shares are slightly above $10 today

The company just recently began trading without the "D" as CMGID after its reverse stock split. Wall St. is still cautious as the main operations of the company are in the ModusLink "supply chain" business. It doesn’t take a rocket scientist to be cautious about any aspect of logistics in a slowing economy when transports have remained quite negative.

Stocks that go through reverse stock splits often have a contrary impact from what they intended: lower share prices, mainly from short sellers. Investors seem inclined to stay on the sidelines a bit longer with CMGI, even if this is technically back under $1.00 based on the pre-reverse-split share prices.

The reports earnings on December 3, and caution seems to dictate against jumping in ahead of what will be a tough quarter to please even cult stock investors.

The Editors

Subscriber to the 24/7 Wall St. "Ten Stocks Under $10" newsletter.

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.