E-commerce stocks fall in line with broader market

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 & Poors 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. Fridays closing price of $9.69 was 8.9% less than Thursdays 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 stocks18had 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%

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E-commerce stocks fall in line with broader market

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