Digital Generation (DGIT) Jumps On Positive Fast Money Mention, Potential Sale
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Digital Generation, Inc. (Nasdaq: DGIT) is sharply higher in pre-open trading Wednesday following bullish commentary on the stock from Karen Finerman on last night's CNBC Fast Money.
With shares down over 70 percent over the last year, Finerman stuck her neck out and called a bottom in the stock.
Finerman cited a recent Reuters report which said the company hired Goldman Sachs to weigh a possible sale. Private equity firms including Hellman & Friedman, Thoma Bravo, and Extreme Reach are said to be interested. This is the second time in the last year that the company has weighed a sale. The first time they explored a sale it was at much higher valuation levels of around $900 million. Now shares are valued at around $250 million.
Commenting on a potential sale, Finerman said, "I actually think it will get done."
Shares of DGIT are bid at $10.11 early Wednesday, or 12 percent above Tuesday's close.
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With shares down over 70 percent over the last year, Finerman stuck her neck out and called a bottom in the stock.
Finerman cited a recent Reuters report which said the company hired Goldman Sachs to weigh a possible sale. Private equity firms including Hellman & Friedman, Thoma Bravo, and Extreme Reach are said to be interested. This is the second time in the last year that the company has weighed a sale. The first time they explored a sale it was at much higher valuation levels of around $900 million. Now shares are valued at around $250 million.
Commenting on a potential sale, Finerman said, "I actually think it will get done."
Shares of DGIT are bid at $10.11 early Wednesday, or 12 percent above Tuesday's close.
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