Friday, 3 April 2015
Go Daddy goes up 31%.
GoDaddy, the do-it-all domain registration/web hosting/web authoring/web anything service shares surged +31% on their IPO this week.
Priced pre-IPO at 20 dollars (higher than the 17/18 Dollars expected in itself), the first day of trading saw the company value jump to a stunning circa 6 Billion usd.
22 million shares were offered.
It's 18 years old, unprofitable and with what has been described as a "mountain of debt" but famous for its racy Superbowl commercials. However, it did go through a management shake out a couple of years ago....
Still the market obviously likes it but you'll often find a first day trading boost which diminishes as traders take same day profits.
Good for Go Daddy.
Good for Digital.