New gTLD domain names fallout: ICANN Dissed, Verisign Downgraded

Time out for a reality check  on ICANN's new gTLD domain names program:

Innovation? None

Adoption rate? Pathetic

Costs to Businesses? Increased with no benefits

Cybersquatting? Plenty of that

ICANN reputation? Destroyed

Domain Name Industry? Downgraded

Wells Fargo has downgraded VeriSign (VRSN -3.6%) to Market Perform. The firm is  worried slowing domain name registration growth will pressure VeriSign's top and bottom lines.
Check VRSN price now

But remember Warren Buffett (Berkshire Hathaway) is a major Verisign shareholder and Buffett usually invests for the long term-- Tracking Warren Buffett's Berkshire Hathaway Portfolio - Q1 2014 Update - Berkshire Hathaway inc. (NYSE:BRK.B) | Seeking Alpha: "Verisign Inc. (VRSN): VRSN was purchased in Q4 2012 at prices between $34.15 and $49.48. The position was more than doubled in Q1 2013 to a 0.45% position at prices between $38 and $48. In Q2 2013, the stake was again increased by one-third at prices between $44.39 and $49.27. This quarter saw a ~6% increase at prices between $51.68 and $62.61. It currently trades at $48.26. The current position is at around 9% of the business."

It appears everyone -- domain name registrants, nations (see e.g., France), businesses -- is just trying to ride out and see through all of the needless costs, chaos, and confusion imposed on the internet domain name space by ICANN with its new gTLDs domain names program.

More info:

Drop In VeriSign Shares Highlights Risks Associated With Domain Business by Trefis 

Web.Com: Bankrupt In 5 Years? Seeking Alpha

VeriSign Management Discusses Q1 2014 Results - Earnings Call Transcript | Seeking Alpha

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