Meanwhile, PayPal acquires mobile payments firm Paydient.
The Internet Retailer Online Retail Index dropped 3% last week.
E-commerce stocks endured a rough week last week as the Internet Retailer Online Retail Index decreased 3.3% over the prior week.
That performance is in line with the woes of the broader market. The Dow Jones Industrial Average decreased 2.7% and the Standard & Poor’s 500 fell 3.0% last week.
Among stocks tracked in the Online Retail Index, daily deal provider Groupon Inc.’s stock fared the worst last week with a 19.6% decrease from the previous week. On Friday a moratorium imposed by Groupon lifted that enables Groupon insiders to sell approximately 600 million Groupon shares. Friday’s closing price of $9.69 was 8.9% less than Thursday’s close of $10.64.
Companies may use what is called a lockup to withhold some shares when going public to avoid flooding the market. Overall, Groupon has issued approximately 645.8 million shares.
The Online Retail Index tracks 25 publicly traded e-retailers and e-commerce technology providers. The majority of index stocks—18—had losses for the week, while five gained value and two, Bidz.com Inc. and eGain Communications Corp., were flat.
Following are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:
• United Online, 5.0%
• Shutterfly, 2.8%
• Digital River, 1.9%
• Coastal Contacts, 0.4%
• Vitacost, 0.1%
Following are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Groupon, -19.6%
• Vistaprint, -12.2%
• Netflix, -10.4%
• Bluefly, -8.9%
• Blue Nile, -8.5%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Bidz.com Inc., Blue Nile Inc., Bluefly Inc., Coastal Contacts Inc., Digital River Inc., eBay Inc., eGain Communications Corp., Groupon Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc., Vistaprint Ltd and Vitacost.com Inc.