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Web.com Sees Stock Growth Despite Dow Downturn

11:05 PM, Aug 4, 2011   |    comments
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JACKSONVILLE, Fla. -- Although the overall market plummeted Thursday, Web.com Group, a First Coast business, saw shares rise by 20 percent.

Its stock popped after announcing late Wednesday its plans to acquire privately-held Website services company Network Solutions for $560 million.

When the business was trading at $15.64 in May 2010, Jim Cramer of CNBC's Mad Money recommended investors avoid the stock because it was too expensive. He did, however, say it was worth buying on a pullback.

Sure enough, the stock fell to around $8 a share, giving investors a chance to buy before Wednesday's massive run.

Cramer wanted to learn more about Web.com's tremendous move to the upside. To do so, he spoke with CEO David Brown.

NBC Newschannel; First Coast News

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