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:
|What we want Apple to unveil at WWDC|
|Millennials squeezed out of buying a home|
|7 traits the rich have in common|
|Big Data knows you're sick, tired and depressed|
|Your car is a giant computer - and it can be hacked|
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.83%||3.86%|
|15 yr fixed||2.95%||2.94%|
|30 yr refi||3.95%||3.98%|
|15 yr refi||3.05%||3.05%|
Today's featured rates: