Yesterday's Hot IPO for Demand Media (DMD) Backs Off
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After surging on its IPO debut yesterday, Demand Media (NYSE: DMD) is giving back some gains today.
Shares are down 3.8 percent today, but are still up 26 percent from the $17 per share pricing.
Despite today's selling, the Demand Media IPO is still the top performing IPO so far this year, according to data StreetInsider.com's IPO Insider.
While successful, Demand Media has also been refereed to as a content farm. Demand Media is known for paying cheap wages to obtain tons of obscure content that it sells ads against. Algorithms it runs against search results spits out to writers what content people on the web are reading and what pays the most.
Some key dates for the IPO are as follows:
Shares are down 3.8 percent today, but are still up 26 percent from the $17 per share pricing.
Despite today's selling, the Demand Media IPO is still the top performing IPO so far this year, according to data StreetInsider.com's IPO Insider.
While successful, Demand Media has also been refereed to as a content farm. Demand Media is known for paying cheap wages to obtain tons of obscure content that it sells ads against. Algorithms it runs against search results spits out to writers what content people on the web are reading and what pays the most.
Some key dates for the IPO are as follows:
- Demand Media Quiet Period Expiration: March 7, 2011
- Demand Media Lockup Expiration: July 25, 2011
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