Tupac Hologram Gives Life to This Stock
Despite being shot to death in 1996, Tupac Shakur made a long-awaited comeback last weekend at the Coachella Valley music festival in California. Thanks to technology from Digital Domain Media Group, Inc. (NYSE:DDMG), fans were able to view a hologram-like projection of the rapper along the side of Snoop Dogg and producer Dr. Dre.
For Tupac’s return, Digital Domain used a technique first created in 1862, in which an image is bounced off of the ground onto an invisible screen. Although Tupac’s image was not a true hologram, the performance was very eye-catching and the video went viral in a matter of hours. Furthermore, the Wall Street Journal reported on Tuesday that Dr. Dre and Snoop Dogg representatives plan to discuss logistics for a tour involving the two performers and the virtual Tupac. Ethan Smith writes, “One option would be a tour in stadiums, involving other hip-hop stars, including Eminem, 50 Cent and Wiz Khalifa. Alternately, they could stage a more limited tour, featuring only Dre, Snoop Dogg and the virtual Tupac, in smaller arenas.”
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The possibilities of more performances from virtual Tupac or even other deceased celebrities like Elvis sent shares of Digital Domain surging 16.5 percent on Tuesday. Before the virtual Tupac sensation, the Florida based company’s average three-month trading volume was 24,000 shares. On Tuesday, volume surged to over 764,000 shares. Shares also topped the list of the biggest percentage price gainers among common stocks on the New York Stock Exchange at the close. However, shares are still slightly in the red for the year. In 2011, Digital Domain reported revenue of $98.6 million and a net loss of $140.7 million.
On Tuesday, other music related stocks such as SIRIUS XM Radio Inc. (NASDAQ:SIRI) gained 3.23 percent, while Pandora Media, Inc. (NYSE:P) fell 1.09 percent. Fans can follow the latest virtual Tupac on Twitter @HologramTupac. The account launched on Monday and already has more than 27,000 followers.
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