I’m Going To Call A Market Bottom (at least for now) On Demand Media
At $13.99 shares are trading at almost 50% of its high and almost 30% off its IPO price of $17.
So I’m going to go against the grain and call a market bottom, at least for the near term of the shares at $14.
Demand still owns Enom.com which is the world’s second largest domain name registrar with over 10,000,000 domains under management.
eHow. while knocked around by Google’s knockdown is still around and ranking and the company issued a statement saying they were still doing fine.
The market reacted to the news about eHow and now I think the reaction borders on over-reaction.
The lock up period for insiders expires 6 months from the IPO (late January) or sometime in late June then all bets are off.
For the disclaimers:
As of time of publication, I do not own shares or have a short position or any position in Demand stock or options.