GO
Loading...

Groupon Stock Tumbles as IPO Lock-Up Period Ends

AP
Friday, 1 Jun 2012 | 12:35 PM ET
Groupon
Getty Images
Groupon

Groupon's stock is tumbling as insiders are selling their shares after a post-IPO prohibition was lifted.

Employees and other insiders are required to wait before selling their stock following a company's initial public offering. Groupon's lock-up period expired on Friday. The company went public on Nov. 4.

Shares of Chicago-based Groupon fell 93 cents, or 8.7 percent, to $9.71 in midday trading Friday. Earlier, the stock was as low as $9.53. That's the lowest since its IPO, which priced at $20.

Friday was a bad day for the overall stock market, too. A closely watched report showed that the U.S. economy added far fewer jobs than expected last month.



email: tech@cnbc.com

  Price   Change %Change
GROUPON
---

Featured

Contact Technology

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.