Internet Market Close Report for 1998.08.06 | Internet News
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Internet Market Close Report for 1998.08.06

Written By
Steve Harmon
Steve Harmon
Aug 6, 1998
1 minute read


























 
06-Aug-98
point change
% change

ISDEX
132.00
5.63
4.46%

NASDAQ
1,821.59
33.39
1.87%

DJIA
8,577.68
30.90
0.36%

  • CMG Info (NASDAQ:CMGI) pops 18% to $79.625 per share as investors line up to get a back door piece of GeoCities which plans an IPO next week. CMG owns a third of the Websteader firm. CMG’s spinning of its position in PlanetAll into Amazon (NASDAQ:AMZN) shares also provides a great way to turn equity into semi-liquidity without doing an IPO. One way or another CMG finds a way to get maximum value out of its portfolio. Having been a fan of CMGI for four years it’s finally at the recognition stage.

  • RealNetworks (NASDAQ:RNWK) reports more than 3.5 million consumers downloaded its streaming media player, RealPlayer and new G2 player, in July. Total RealPlayer registered users exceeds 28 million. Yes, Real’s CEO Rob Glaser blasted Microsoft before the Senate July 23 saying it “breaks” RealPlayer with a rival offing. That caused RNWK stock to fall. On today’s news RNWK climbs 12% to $36 per share. We think RNWK may have been oversold on the quip.


    Internet Investment Symposium ’98 @ Fall Internet World!

    Book now! New York City, Oct. 8-9 as Steve Harmon talks investments with some of the top names in the industry…CEOs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, and some of the top Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!”

    •
    Steve Harmon
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