Internet Market Close Report for 1998.06.11


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  • (NASDAQ:AMZN) goes ballistic (again) on the unveiling of its anticipated music store. AMZN shares climb 15% to $62.50 per share. Just April 24 in
    Internet Stock Report
    we said Amazon could take off precisely for that reason, and the fact that a survey we took revealed Amazon to be the Web’s strongest “ecommerce” name – not just books. AMZN, split-adjusted, was a $40.50 stock then, so it’s up 54% in a little over a month.

  • CMG Information Services (NASDAQ:CMGI) reports its third quarter revenue reaches $20.4 million vs. $17.8 million 3Q98. Net loss is $11.7 million, or loss of $0.55 per share vs. loss of $0.29 per share 3Q98. But, in our opinion, the balance sheet movements are secondary considerations to the net asset value of CMG’s more than 20 investments. For example, much of 3Q revenue came by it selling a small percent of its position in Lycos (NASDAQ:LCOS), which it still owns about 40% of. The name CMG still sounds like a misnomer here, however.

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