Shares of Demand Media, Inc. took a beating today closing at what we believe is an all time low of $3.70 a share.
The company which reported earnings last night after the closed finished down almost 10% on the day.
Shares hit an intra-day low in trading of $3.62.
Shares of Demand Media have a 52 week high of $9.75 well below its IPO price of $17 a share.
Volume was about two and a half times as much as their 3 month daily average.
The market cap of Demand Media is now $335 million, which is now just about double that of Tucows.
Demand Media, Inc. owns two of the top 10 domain name registrars as does Web.com (WWWW) whose market cap is over $1.63 Billion.
Demand is also the back end provider of all of Donuts new gTLD strings and owns 107 new gTLD with Donuts as well as having 26 new gTLD applications on its own.
Demand also own half of NameJet.com
However the content side of Demand Media’s business including eHow continues to under perform.
The company plans on spinning of the domain registrars, its back end provider business and new gTLD business late this summer, but its getting hard to see how a stock trading at these levels can be split into two public company’s in my opinion.