... has its work cut out for it. Since the animation studio's mother company is climbing up a steep hill.
... DD sold about 4.9 million shares to investors at $8.50 per share today. By the closing bell, the share price had fallen to $7.15. Back in May, DD said it hoped to raise as much as $115 million, a tough order for a company that posted a net loss of $45.2 million last year. And it didn't help when the company announced a net loss of $112 million for the first half of 2011 ...
Beyond the lacklustre IPO, there might be another, larger mountain beyond that first one. The animated feature marketplace is a wee bit crowded just now, so the company's first offering had better be peachy dandy. Audiences can be hard-nosed and fickle. A weak effort might be problematic.
Just ask the Weinstein brothers.