According to several sources, a fake news story appearing on a new gTLD domain name Bloomberg.Market sent shares of Twitter up over 5% today when they reported Twitter was going to be bought for $31 Billion dollars to over $38 a share.
The domain is Bloomberg.market, not Bloomberg.com but its made to look like Bloomberg.com
We have chatted on many occasions that trademark holders haveonly lightly participated in the Sunrise periods for each new gTLD rollout with the exception of .porn, .adult and .sucks.
While I understand why trademark holders don’t want to register thousands of new domain names, those new gTLD’s that are right in the wheelhouse of a trademark holder like Bloomberg.Markets should have been registered by the trademark holder.
.Press, .News, .Money are a few others new gTLD’s that come to mind in relationship to Bloomberg.
While trademark holders can get infringing new gTLD registrations suspended or even transferred, sometimes that is well after the damage is done.
The domain name Bloomberg.market was registered just a few days on July 10, 2015 at Enom.com under privacy.
I agree with you that it is amazing that Bloomberg did not already own that name. I heard that on twitter some Bloomberg reporters were actually linking the fake story on their twitter feeds. Thanks for another great post Mike!
My guess is there is now a trend with brands choosing to go offensive (react to a TM violation) rather than defensive (register all possible permutations across extensions) considering this mega expansion has had its teething problems including some fleecing registries etc.
Let us see how effective this RAPID SUSPENSION mechanism really is.
.com is the only self authenticating Gtld
So, whitehouse.com is really the office of the president of the US, right ?
It’s cheaper to not register an usless domain name at premium price and take advantage of the rapid suspension system.
.sucks …
I’m curious if pumping and dumping stocks like this is illegal.
The registry Rightside looks like they have taken the domain down under their usage agreement
Surprised the SEC hasn’t started investigating this. $Billions could have been made by this “hoax”
Yet another reason that the gtlds will lose credibility in favor of .Com. I see nothing good in the future of gtlds, only more stories like this one.
This could have easily happened with a .com name
That was quick. A site with .market extension only to be registered on July 10th has troubled the market in mere 4 days.
The domain has been taken down btw.
I understand the SEC already has a good idea who the party is responsible for this manipulation, which could have provided a multi-billion $ payday. Not sure they will be able to enforce this, as the person is outside jurisdiction of the USA.
What I find perplexing — how could someone register “Bloomberg” without documentation? Bloomberg is a brand comparable to Google, Microsoft, NYT, Comcast — more reason why these
GTLDs will have to overcome the “trust” factor.
Mission impossible, Steve. The new gtlds will never gain people’s trust. As the choice of the big companies, confidence, credibility and trust will remain exclusively with .com no matter how crowded the playing field gets.
This is probably more of an issue with automatic trading that uses social data to trigger trades than a domain thing.
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