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Summary:

Updated: Demand Media (NYSE: DMD) says Google’s move Thursday to reduce the rankings of low-quality sites hasn’t had a “material net impact”…

QuinStreet
photo: Nasdaq

Updated: Demand Media (NYSE: DMD) says Google’s move Thursday to reduce the rankings of low-quality sites hasn’t had a “material net impact” on its business — at least yet — and investors don’t seem to believe it will. After sending Demand Media’s shares down as much as 5 percent on the Nasdaq, the stock ended the day up 1.5 percent to close at $22.96.

That’s well above the $17 Demand Media’s stock first traded at when it went public in late January, and down slightly from the $23.38 high it reached earlier this week when the company reported its first earnings as a public company.

Here’s the chart:

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  1. Spoke too soon…stock is up nearly 2% on the day. Doesn’t make any sense to talk about intraday moves. At the end of the day, DMD was up in spite of the supposedly “damning” news. Please update this post…

  2. Michael Dossett Friday, February 25, 2011

    Stock ended the day up 1.58%.

  3. Joseph Tartakoff Friday, February 25, 2011

    I updated. Thanks.

    — Joe Tartakoff

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