Company offers to buy up to 6.5 million shares of its stock. Tucows, which owns the world’s third largest domain name registrar, announced a Dutch auction tender offer to repurchase up to 6,500,000 shares of its common stock.
Marchex gets smacked around in the stock market.
With one week to go, Demand Media shares hit fresh lows. Next week ends a 180 day lock up period in which many Demand Media option holders can finally sell their shares in the company. Unfortunately for them, shares are now trading at only $11.
Shares of domain name companies hardly budge. In the grand scheme of things the introduction of new TLDs is trivial. But to domain name companies it’s a big deal. Apparently investors in some of the companies that may be affected either don’t understand it or had already priced approval into the stock prices
Market happy with results at two domain name companies. Two publicly traded domain name companies have seen a nice bounce in their stock prices after reporting earnings. Tucows reported net income of 3 cents per share for the fourth quarter of 2009 on February 16 after the market closed. It also reported $2.88 million of cashflow from operations.