The Breakdown

Explaining Southern California's economy

Tupac Shakur hologram company is basically going down the tubes

Dr. Dre (left) and (hologram) Tupac Shakur appeared at Coachella. The company behind the visual effect may soon disappear, however.
Dr. Dre (left) and (hologram) Tupac Shakur appeared at Coachella. The company behind the visual effect may soon disappear, however. Kevin Winter, Christopher Polk / Getty Images

Digital Domain Media Group, the Florida-based digital effects company behind the Tupac Shakur hologram that wowed 'em at Coachella, has been in a downward spiral since spring. After staging an IPO last year, the company peaked at around $9 a share. It's now fallen below $1. The CEO, John Textor, resigned today.

The entire Florida operation is going to be effectively shut down, but studios in California and Canada will remain in business, according to a statement from the company.

DDMG has been an integral part of the visual effects of "Transformers" and "Tron," as well as "Thor." The company's market capitalization has plunged to about $24 million, making it worth less than its apparent total debt of $35 (debt that was just extended by bondholders). 

The company is miles from where it was in late May, when executives rang the bell at the New York Stock Exchange.

Follow Matthew DeBord and the DeBord Report on Twitter. And ask Matt questions at Quora.

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