Demand Media’s high-flying days are over

Demand Media’s stock soared 33% to $22.65 on its IPO day a year ago; on Thursday, shares fell to $5.92 after they were downgraded.

Morgan Stanley analyst Scott Devitt, in his note on Demand Media, said the company’s approach to mass producing content is under pressure as Google and other online search engines penalize sites that are deemed to have lower quality offerings.

* Demand Media stock reels after Morgan Stanley downgraded
* Earlier: There’s a hidden “major asset” data gem in Demand’s business