As Facebook (NASDAQ: FB) continues to make headlines due to its disappointing share price performance, a smaller social media company rallied in counterbalance: DoMark International (OTC: DOMK). The company rallied 2.86% today as domestic stocks started the trading session strong today, although their rebound was short-lived under selling pressure that overcame the rally later in the day. Both the Dow and NASDAQ indices closed the day with minor losses.
- Dow Jones Industrial Average: -0.01%, dropping 1.67 points to 12,502.81
- NASDAQ Composite: -0.29%, dropping 8.13 points to 2,839.08
Dropping 8.90% today, Facebook stock has hit a new all-time low of $31.00. While it only took a short time for Facebook to reverse its fortune and turn hot to cold, the battle over social media might have only just begun. If yesterday Facebook’s falling below its IPO pricing of $38 was shocking, today was horrifying: Facebook bankers secretly cut Facebook’s revenue estimates during the course of the IPO road show. Investors are outraged with this drama. The Securities & Exchange Commission (SEC) has already made comments that they may need to take a closer look at the matter “with respect to Facebook.”
Despite all the drama with Facebook, Domark International rose 2.86% today, outpacing the performance of the general stock market. Domark International’s overall share price performance has been respectable this year, with a gain of +52% since January 1, 2012. An outline of its overall performance and other statistics can be viewed on Google Trends:
For anyone not familiar with Domark International, it owns and operates Armada Sports & Entertainment, which is a company engaged in sports marketing. It owns, develops and conducts products made for television sports & entertainment events. Armada currently has clientelle who participate in a series of unique sports competitions, including golf championships.
There is another factor that has probably been contributing to Domark International’s relative strength in the stock market. Domark International’s recently purchased Solawerks, which has been producing a new solapad product specifically for all versions of Apple’s iPad. The Solapad contains a solar panel with a high-efficiency internal battery that has the ability to keep the iPad charged for much longer time, due to power replenishment from sunlight. Domark International’s Solawers is looking for clients beyond Apple; they are also targeting the U.S. military-industrial complex as another potential costumer.
Broad U.S. stocks closed mostly flat today after a volatile late-day period. Analysts said the weakness was in the energy and material sectors which offset the strength in financials. For now, volatility is rising and there is significant uncertainty as to where the stock market goes from here. While the social media sector continues to fall with the Facebook share price, many investors are looking for alternatives. Nevertheless, DoMark International has already staged its rally of over 50% year-to-date, despite that it still might not be a bad choice for investors.
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