Lockup Expires, Groupon Sinks to New Low

Posted by Techvibes NewsDesk

The lockup expired today from Groupon's November IPO. And boy, is it obvious.

The daily deals giant sank 10%, falling well below $10 to a new low. The Wall Street Journal reported that the volume on the stock trading doubled the 30-day daily average in just one single hour.

Groupon is now less than 50% of what it debuted on the stock market for. New investors are extremely wary of buying the company at this discounted price because there are still many investors with significant stakes that would likely love to sell were Groupon's share to climb again, which means a comeback will be difficult for the company—and possibly reversed should it manage to happen anyway.

Company:
Groupon
Website:
http://www.groupon.com
Location:
Chicago, Illinois, United States

Launched in November 2008, Groupon features a daily deal on the best stuff to do, see, eat, and buy in a variety of cities across the United States. We have about 200 wonderful people working in our Chicago office (a handful of whom you can see to your right), along with a smattering of people in Groupon's other cities. Our company philosophy is pretty simple: we treat our customers the way we like to be treated.... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more




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