Bonneville Phoenix Network
 KTAR News
 Arizona Sports
Latest News

Angie's List hits low, days after lock-up ends

NEW YORK (AP) - Shares of online reviews site Angie's List hit another all-time low Friday, a few days after the lifting of a ban that had prohibited insiders from flooding the market with additional stock.

On Tuesday the stock suffered its biggest one-day drop thus far and closed at $11.17 when the so-called lock-up period on insiders ended.

On Friday Angie's List Inc. fell further, down nearly 5 percent, to close at $10.64. It traded as low as $10.43 earlier in the day, below the previous all-time low of $10.77 set in November.

The stocks of two other newly traded tech companies, Groupon Inc. and Facebook Inc., also hit all-time lows on Friday. Facebook had a similar lock-up period expire this week, while Groupon started the week by reporting lackluster quarterly earnings.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


comments powered by Disqus
Latest News