Reglikedomain industry desk

20% of its value today — Tucows lost

20% of its value today — Tucows lost

Wall Street punishes firm following disappointing Q1 results.

Picture of downward arrow and stock pricesDomain name, wireless and internet provider Tucows had a rough day.

Shares in the firm plunged $17.30, or 20%, to $68.75. Regarding $180 million of value was wiped out in one day.

The drop came following the firm noted disappointing earnings following the market closed yesterday. Revenue slid in the firm’s domain business and it faced headwinds with suppliers for its wireless service.

Long-term shareholders probably aren’t sweating too much. Today’s closing price is still above where shares traded a year ago.

Tucows is the second largest domain name registrar. It owns Tucows/OpenSRS, Enom, Ascio and other registrars.

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