Wall St. reacts to non-news
VeriSign (NASDAQ:VRSN) was down 10% in early trading on Monday, and closed down 6% because of this announcement by the National Telecommunications and Information Administration (NTIA). Basically, the NTIA
announces its intent to transition key Internet domain name functions to the global multistakeholder community. As the first step, NTIA is asking the Internet Corporation for Assigned Names and Numbers (ICANN) to convene global stakeholders to develop a proposal to transition the current role played by NTIA in the coordination of the Internet's domain name system (DNS).
VeriSign has immediately issued a press release, stating that:
The announcement by NTIA on Friday, March 14, 2014, does not affect Verisign's operation of the...
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