It leads the pack heading south as the overall Online Retail Index decreases 2.9%.
Kevin Woodward , Senior Editor
It was not a good week for Groupon Inc.’s stock performance.
Beset by the revelation after market close last Friday that it was restating its fourth-quarter results, the daily deal provider this week faced a lawsuit over the restatement. The company’s stock value fell 22.9% last week when compared to the prior week.
The majority of the 25 e-retailers and e-commerce technology providers tracked in the Internet Retailer Online Retail Index also turned in a poor showing this week. Only seven saw increases, led by online jewelry retailer and auctioneer Bidz.com with a chart-leading 13.2% increase. Bidz.com closed at 60 cents April 5 compared with 53 cents the prior week. The stock markets were closed April 6 for the Good Friday holiday.
Overall, the Online Retail Index decreased 2.93% last week, a poorer showing than the broader market. The Dow Jones Industrial Average decreased 1.15% and the Standard & Poor’s 500 fell 0.74% last week.
Following are the best-performing stocks last week in the Online Retail Index and the percentage increase in stock price for each:
• Bidz.com, 13.2%
• PetMed Express, 6.2%
• Systemax, 2.9%
• Coastal Contacts, 1.9%
• ValueClick, 0.9%
Following are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Groupon, -22.9%
• U.S. Auto Parts Network, -15.0%
• Blue Nile, -10.3%
• Keynote Systems, -7.4%
• Digital River, -6.4%
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.