Tucows Closes at 52 Week Low
2008 August 25
Tucows, a member of our Domain Stock Parking Index, closed at a 52 week low of $.47 a share down $.05, almost 10% in trading today.
Volume today was 4 times the daily average.
The daily volume for Tucows averages for 3 months 79,676 shares. Today Tucows traded over 236,000 shares.
No news was reported.
Tucows market cap now sits at under $35M.
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Mike, apparently, Mark Cuban dumped his shares to a hedge fund last week at $0.50. He owned close to 9% of the company. I assumed that would make 50cents the base for a while. Bad sign that Cuban sold, good sign that a hedge fund bought. At 47cents today, it tells me there is no floor for it. I think it will trade in the $5-10 range in a year or 2 when the economy and the markets rebound (yes, they will eventually rebound). There is no doubt about that IMHO. They will accumulate 100,000 premium expired domains a year. By that time they will have 300-400K domains total. Only question is is the best entry point 40cents or 25cents or something else. There are a number of potential 10-baggers right now from the bloodbath the past 6-12 months. I love it.
BTW, I love your domain, batterypoweredcars.com. That is the future. At least, I think that’s yours.
Tony
The thing I worry about with this company still is how easy they tossed away a good customer.
If that is the way the run the company it may hit $.25 and stay there for a while.
I agree Michael. They tossed you under the bus and didn’t blink. That’s $100K in profit loss with One Person!
Maybe Cuban was reading TheDomains.com and noticed the $100K loss and the submissions to ICANN about warehousing domains with Tucows name plastered all over and figured ICANN might do something about it…. If ICANN did something about it, how would Tucows get domains? By spending Money like the rest of us Have To.
Jamie
And not to rehash it again, but they threw 23 other domainers under the bus as well.
Just scary that they are so willing to chuck their best customers off.
Certainly a bad news for domain industry. I never knew Tucows was run that badly.
Mostly forums have good post about them.
Many Company’s are run like Crap – The Executives live in lala land (they are lost in space).