Groupon () sold 35 million shares at $20, raising $700 million. The online deal provider is making only 5% of its shares available for trading, leaving plenty of room for further offerings.
The opening print of Groupon's stock was $28, earning IPO buyers 40% overnight.
Meanwhile, another big Internet IPO from this year, LinkedIn (), released its second earnings report as a publicly traded company. The social network for professionals beat consensus estimates and raised guidance for next quarter, but its shares still plunged 4.3% on news of a $500 million secondary offering.
On the surface, the amount does not seem so big for an $8 billion dollar company, but it actually more than doubles its float (the number of shares that are publicly available for trading). LinkedIn, just like Groupon, offered only 5% of its outstanding shares on its IPO day back in May.
These are some of the more popular themes on StockTwits Friday:
|Toyota's frumpy Camry gets a New York make-over|
|5 people you might not tip (but should)|
|Oklahoma bans local minimum wage hikes|
|KFC brings back its fabled Double Down|
|GM reveals most powerful drop-top Corvette|
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.26%||4.48%|
|15 yr fixed||3.30%||3.31%|
|30 yr refi||4.25%||4.45%|
|15 yr refi||3.29%||3.34%|
Today's featured rates: