GoDaddy
GoDaddy announced the acquisition of Poynt, expanding its commerce services with offline sales and integrated payments.
The acquisition is worth a total of $365 million dollars: GoDaddy will pay $320 million in cash at closing and $45 million in deferred cash payments subject to certain performance and employment conditions over three years.
The transaction with Poynt is expected to close in the first quarter of 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.
Poynt?
It seems that it doesn’t matter how the domain is spelled, after all! 😀
Today, GoDaddy stock (GDDY) reached a new high at $91.81 dollars from the previous day closing of $85.84 dollars. The stock dropped lower later today.
Note: We do not hold any positions in GoDaddy stock at this time.
Well, I missed that train. I was about to dump a bit more into $GDDY but felt that it was overvalued at $83… now it’s retracing from its high of $91.60 (would have been a profit of 1 free domain renewal per share [$8.60] at that price) at hopefully a price of $88 (or below) pre-market today. I’m sure that the $5 I lost out on by not investing more a couple of days ago will still turn into $5+ in the long game as GoDaddy keeps growing over time, even during a pandemic as it was one stock that quickly recovered while others are still getting to that point.
Finally pulled the trigger with a bit at $87.96 and it’s currently trading at $87.85… a whopping 11 cents down per share. I’ll buy it down because it’ll surely go up. The volume is just so little that it’s more of a long-term hold and no worries here.