GoDaddy stocks jumps on acquisition news

domainking131

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GoDaddy stock closed up just under 4% today, a nice jump considering the Dow was down over 100 points at the close of business. A publication called Bidness Etc. said GoDaddy “stock surged after the company announced acquisition of almost 70,000 domain names to its Worldwide Media, Inc. domain name portfolio.”

According to Yahoo Finance, GoDaddy’s market capitalization is $5.27 Billion. After the market closed today, GoDaddy stock was trading at $33.94 Up $1.26 on the day and up 3.86%. Considering the market cap, this jump was worth somewhere around $200 million in valuation. Whatever the company paid for Mike Berkens’ portfolio, the market seems to like the news, and I assume the company will do well with the acquisition.

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