Tuesday , March 21 2023

Domain stocks trail market in 2021

MMX is one bright spot in the industry.

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Major domain name stocks are treading water this year despite the up markets.

I analyzed prices from the December 31 close last year to the market close yesterday, June 9. During that period, the Dow is up 13%, the S&P is up 12% and the NASDAQ is up 8%.

MMX is up due to the GoDaddy acquisition, but other stocks are either neutral or down. Here’s a look, ranked by gains for the year.

MMX (London AIM: MMX): Minds + Machines (MMX) is the one bright spot this year after GoDaddy announced it’s acquiring substantially all of its assets. Shares are up 46%.

Tucows (NASDAQ: TCX): Shares in the company that owns Enom have increased 5% so far this year. Its yearly financial comparisons are hard to read because the company sold its mobile business last year on an earn-out deal.

Verisign (NASDAQ: VRSN): Verisign is trading neutral for the year, up 1%. It surprised the market with improved guidance after Q1. Analysts and stockholders should have already priced in the 7% price increase for .com that goes into effect on September 1.

GoDaddy (NYSE: GDDY): GoDaddy is treading water this year, down 2%.

Clarivate (NYSE: CCC): Clarivate is kind of, sort of a domain company. It owns MarkMonitor. It was a SPAC before SPACs were cool. Shares are down 11% so far this year.

CentralNic (London AIM: CNIC): CentralNic’s shares are down 12% so far this year. The company reports strong growth as the mix of the company has changed with a focus on online advertising businesses.

NameSilo (OTC: URLOF): NameSilo is down 22% this year. The company announced last year that it signed a non-binding letter of intent to be acquired, but that has not progressed to a definitive agreement as of April 5 this year.

I do not own individual shares in publicly-traded domain name companies to avoid a conflict of interest. Mutual funds I own, including index funds, do hold some of these stocks.

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About Andrew Allemann

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