‘Nobody Really Wanted To Own Groupon Shares’June 1, 2012 8:14 pm
That is a reasonable conclusion based on how Groupon stock price moved today –
“Shares of Groupon (GRPN) closed down 95 cents, or almost 9%, at $9.69, recovering slightly from their low of the day of $9.53, following the six-month lock-up expiration for the shares, allowing insiders to sell more of the stock, as noted today by Groupon’s home-town paper, The Chicago Tribune, in a story by Wailin Wong.
As Wong notes, insiders were free today for the first time since the November 4th IPO to sell 600 million shares, which is the vast majority of the 645 million outstanding.”
Statistics Source: Barrons
That is obvious from the volume as well – some 23 million plus today, against an average volume of some 3 million. Also see how much Mark made from Facebook IPO