... 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.
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7 comments:
Why anybody paid more than a penny for a share in that shambling mess is beyond me. If they had a single decent creative idea bouncing around the studio, they would have made a feature years ago.
They will save money through their "students-working-for-free-for-them" scheme.
--> If they had a single decent creative idea bouncing around the studio, they would have made a feature years ago.
They announced an original CG feature years ago, before the current ownership. A WW-II "tone poem" involving cranes, or something?
Help me out here, who remembers this better than I do?
Sounds like a winner to me...
CNBC, fox, and the Wall Street Journal called this stock a dog--avoid at all cost.
Sold for the lowest expected price, around 38 million.
That's not even half of a film production budget at their Florida studio endeavors. I wonder how much it will affect them down there.
They're required by the Florida Tax incentive plan to hire 500 full time people in the next year for a year or more, or the incentives dry up.
Good luck.
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