Rightside had a record day today. They traded 279,000 shares, five times the normal volume and the stock rose $1.12 to $9. There was no news reported and its not known who bought the big block of shares but it was obvious there wasn’t anyone on the other side willing to give them up at market price. I’ve stated before that I had ZERO idea how to make money buying new gTLDs and didn’t want to throw money around guessing. Instead I put the money into Rightside.
I put the money into Rightside because I thought they offered a play on the new Gs and I get to own Namejet as well. I also trust management. I know many of them personally and feel they are fully qualified to run the ship in the right direction. With that being said, I also felt the stock was a little too rich during the IPO and was going to wait for it to settle. And it did and I picked up my shares from $7.06 and below. After the close today I am now up 30%. Which is 30% better than 99% of the people that have bought the domains themselves.
Don’t take my stock advice but I truly believe the stock hits 14 in 2015. Namejet and the registrars seem to be doing well and I think the market set the bar very low for new G sales. We’ll find out soon enough. But as long as people keep buying the stock in the volume I saw today things will keep moving along nicely.
On a side note, I have a Vegas bet of $50 on every Dog and the points in the NCAA first round. And it’s going well. Today was a good day