Online profile-driven marketing company Engage (Nasdaq: ENGA) was one of the darlings of Wall Street last Tuesday when it went public at $15 and closed its first day of trading at 41. The stock, however, has fallen every day since then.
While most Internet companies were recovering from recent losses on Tuesday, shares of Engage fell 2 to 26, extending a brutal string of negative days. Engage’s first week of trading underscores the fact that many Internet stocks aren’t for investors with weak stomachs, but CMGI owns more than 80 percent of Engage, and the marketing company’s future prospects look bright.
If you can withstand some vicious volatility, this is a stock you might want to took a look at.
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