For 24/7 Wall St.’s 52-week low club, we have two well-known Internet companies who have struggled since their respective IPO’s. One company was on our list yesterday, too.
Shares of Facebook Inc. (NASDAQ: FB) fell 6.27% to $19.87 on trading volume of 156.5 million shares. The company’s 90-day lockup after its initial public offering ended Thursday, and 271 shares hit the open market today. The market value of the company has been cut nearly in half since its IPO, where shares were priced at $38.
Shares of Groupon Inc. (NASDAQ: GRPN) fell 6.02% to $5.00 on trading volume of 33 million shares. Equities analysts hit CNBC Thursday to express their concern over Groupon, who made the Wednesday’s club as well. The market value has been cut 75% since its IPO in Nov. 2011, where shares were priced at $20.
Samuel Weigley
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