The retired Miami Dolphins QB bought a total 1,576,525 shares in the movie special effects company, which sought bankruptcy court protection today after shutting down its Port St. Lucie animation studio.
At one point, his investment was worth more than $14 million.
Now? 850K, plus peanuts!
“I know Dan invested in Digital Domain but that’s all I know,” said Marino spokesman Ralph Stringer.
The losses to Marino are unclear because the federal bankruptcy court papers filed by Digital Domain this morning do not mention when Marino became a shareholder and how much he paid for the stock.
But this much is sure: When the company produced the now famous Tupac Shakur hologram on a California concert stage in April, the stock shot up to $9.2 per share.
At that point, Marino’s stock was worth $14.5 million.
Today, it’s hovering around the 55-cent per share mark: Fort Lauderdale resident Marino could barely squeeze $867,088 out of his stock – if he were to find someone to buy it!
By the way, taxpayers in Florida feel what it’s like to be Marino today: Digital Domain also received tens of millions from the state as well as Port St. Lucie and West Palm Beach!
West Palm Beach native John Textor, who painted images of Tinseltown magic to elected officials, suddenly resigned at Digital Domain CEO Friday.