Why did GoDaddy’s shares spike this week?

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GoDaddy had a bit of an average performance for most of the year. However, earlier this week GoDaddy’s shares started moving up. So much that at one point GoDaddy’s shares rose by 10%. So, what’s the reason behind this sudden spike in demand for GoDaddy’s share?

The reason behind this isn’t another exciting product or service announced by the company. Rather, it is because a prominent company decided to invest in GoDaddy. Starboard Value has bought 10.0 million shares of GoDaddy, which totals up to a 6.55% stake in the company. In terms of money, Starboard Value has invested almost $800 million.

The scale of investment gave confidence to the share market, which led to rocketing of GoDaddy’s shares. Starboard Value investment in GoDaddy won’t be its first association with a domain name company. It has also invested in another domain name company Web.com.

The Wizard
Author: The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.

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The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.

By The Wizard

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The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.