Challenged by stock price, special effects company Digital Domain weighs options

Release time：2012-10-15
Browse：4145

PORT ST. LUCIE — Worried that Digital Domain Media Group is mired in “microcap hell,” Chairman and Chief Executive John Textor said today he aims to lure a large investor or perhaps sell part of the entertainment company that’s the cornerstone of Florida’s investment in the animation industry.

In a call with investors this morning, Textor lamented the stock market’s tepid response to the company. Digital Domain (NYSE: DDMG) went public in November at $8.50 a share, and shares mostly have languished below that level.

Digital Domain stock spiked to $9.20 in May but traded below $5 this week. After shares jumped today, the company is valued at $221 million — below the informal $300 million threshold between so-called small-cap and microcap companies.

Textor said investors are punishing Digital Domain because of the low-margin nature of its visual effects business. And, he argued, they’re undervaluing less established but potentially more profitable units such as its new school in West Palm Beach and its burgeoning business of creating virtual versions of dead stars such as Tupac Shakur and Elvis Presley.
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