Dan Marino’s Lost $13.6 million in Digital Domain

Sep 14, 2012
J. Webster
Comments Off on Dan Marino’s Lost $13.6 million in Digital Domain

Dan Marino never won a super bowl and now it looks like he’s lost a super bowl of stocks on the investment front. Famous for the Tupuc Shakur hologram, Digital Domain, filed for bankruptcy and took down the former Miami Dolphins quarterback too. I guess you could say he got sacked on this one. Too bad he didn’t sell some when the Shukur hologram appeared. That turned out to be the top in the stock.

One of the biggest shareholders in the company is former Miami Dolphins quarterback Dan Marino, who is listed in bankruptcy filings as owning 1.6 million shares. From the company’s stock high of $9.20 to Tuesday’s closing price of 55 cents, his holdings have lost $13.6 million in value.

The downward spiral was swift. The company went public just 10 months ago, selling nearly 5 million shares at $8.50 each, below the expected $10 to $12 range. Drifting to the $5 range by spring, the stock then spiked as high as $9.20 following huge reaction to the Shakur hologram, with the performance garnering 15 million YouTube hits within 48 hours and winning a top award at the creative marketing gathering Cannes Lions. (NBC Miami)

Here’s the Tupac hologram performing at Coachella. I guess it’s a warning to all stock investors that when something gets so much attention so fast, maybe it’s time to take a little off the table.

Related Posts Plugin for WordPress, Blogger...

Comments are closed.