Shares of Demand Media (DMD) went on a wild ride today hitting an all time low of $5.24 before recovering back to its closing price of $5.62 a loss of over 13%.
Volume was almost 10X more today than the three month average of Demand trading over 4,000,000 shares.
“that its eHow.com website has recently experienced a decline in traffic, which the Company believes is temporary and was the result of an internal technical issue. ”
“The technical issue has recently been remediated.”
Some have thought recent changes by Google called Panda 2.5 may have attributed to the loss of traffic.
Shares of Demand are now trading at around 80% off its all time high of $27.38.