Marino loses millions in the market
If only these things were as easy to overcome as a 4th quarter deficit.http://www.thepostgame.com/blog/dish/201209/dan-marino-loses-millions-company-gone-bankrupt
Dan Marino Sacked On Investment Of James Cameron's Firm
Thursday, September 13, 2012 2:51 pm
Written by: ThePostGame Staff
It's not hard to see why Digital Domain Media Group Inc. seemed like a good investment. The company, founded by renowned director James Cameron, produced the digital effects for the movie Titanic and the Tupac hologram, among other things.
NFL Hall of Famer Dan Marino was so confident in Digital Domain that he owned 1,358,456 shares in the company before it went public. The price at which Marino bought the stock has been undisclosed.
But by the time the company went public in November 2011, Marino increased his share total to 1,576,525. Assuming Marino still owned that much when the company hit its peak of $9.20 per share in April, his stake would have been $14.5 million.
Since April, the shares have taken a colossal dive and are now only worth around 55 cents each, leaving Marino with just $867,000 in stock.
"I know Dan invested in Digital Domain but that’s all I know," Marino spokesman, Ralph Stringer, told Gossip Extra.
Although the exact amount of Marino's losses are unclear, no amount of fuzzy math can get around the fact that it was pretty big.