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.
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.
Not a member yet?Sign up now for a free account
|Where should you put your money now?|
|Boost for trade as global deal struck|
|No news is good news for stocks?|
|Someone bought a $100,000 Tesla with Bitcoins|
|Five key numbers behind the jobs recovery|