Shares rebound from tough 2014.
2014 was miserable for owners of Rightside stock. Its shares sank 58% from $15.82 after being spun off from Demand Media to $6.72 at the close of 2014. Ouch.
2015 is seeing a big reversal. Shares opened today at $10.11, up 50% from the January 2 open of $6.76.
The fundamentals of the business don’t seem to have changed, but people are buying the stock. I suspect a lot of the sell-off in 2014 was from people who invested in Demand Media and didn’t care to own a pure-play domain name business. They went ahead and took the tax loss. It’s worth noting that most domain name stocks had a weak 2014.
Here’s a chart showing Rightside’s stock performance.
Rigthside owns eNom, Name.com, a large domain portfolio, half of NameJet and Rightside Registry.