Blog Post

Digital Music Group’s Shares Decline on Market Debut; Then Recover

Well, not really a surprise, but Digital Music Group (Nasdaq: DMGI), the first independent digital music company to go IPO, saw its shares slid as much as 14.3 percent in their Nasdaq debut on Thursday.

The shares recovered in late trading at Nasdaq and slid 5 percent for the day to close at $9.25. They had opened at $9.75 and earlier slid as low as $8.36.