Demand Media, trading under the symbol DMD on the New York Stock Exchange, hit a 52 week low this morning, briefly trading at $6.85/share before bouncing off of the low. The company hasn’t been trading for a full year yet, but around the time of the IPO, it traded as high as $27.38/share.
Demand Media owns Enom, one of the largest domain registrars, which owns drop catching auction service, NameJet. There are several DMD executives who have experience with the domain industry.
Another Internet company that hit a 52 week low today was Friend Finder Networks (FFN). Google is trading just above its 52 week low of $473.02, and surprisingly, Yahoo is up today, as is the Nasdaq.
It should also be said that a majority of all Dow component stocks are down today.
Companies with significant Domain Registrar revenue are not looked favorable by Wall Street due to the high amount of deferred income. Web.com has taken a similiar beating.
Don’t even want to look at the screen today…