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Facebook, Groupon hit new lows

September 4, 2012: 1:26 PM ET

Shares of Facebook and Groupon fell to new record lows Tuesday as investors continue punish the one-time technology darlings.

Facebook was down 1.7% in mid-afternoon trading and at one point hit $17.55, marking a new low since the stock's ill-fated debut in May.

Groupon fell 2.3% to $4.05 per share, extending this year's slide to nearly 80%.

It's been tough sledding for Facebook since it first offered shares to the public for $38 a piece. The biggest challenge now facing the social network, analysts say, is the multiple expiration of lock-up periods, which is when company insiders and major stakeholders can sell their shares.

Traders on StockTwits were unwilling to cut Facebook any slack.

Trade2day1: Facebook is the sorriest stock I've seen, what a joke $FB

menax73: $FB is this symbol for "Fail to Bounce" LOL.

harandian: $FB when was the last time a copmany lost 50 billion market cap in a rising market and the CEO didnt bother to come out & defend his company.

Meanwhile, investors aren't taking any chances on Groupon, which reported sluggish revenue growth in the second quarter, even as earnings rose more than expected.

investorsmosaic: $GRPN beginning to price in bankruptcy as cash flow will go massively negative as growth stalls.

JonBialis: With $5 off your next Groupon deal you can now buy a share RT @TheStalwart: RT @SeemaCnbc: Groupon hits $4. New low. $GRPN

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About This Author
Ben Rooney
Ben Rooney
Staff writer, CNNMoney

Ben Rooney is a staff writer for CNNMoney. He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news. Follow Ben on Twitter: @ben_rooney

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