Why Groupon (GRPN) Is Selling at a Discount
Leonsis engaged in the sales after purchasing 150,000 shares at his stock option price of 5 cents a share. He still owns 793,500 shares following the reported transactions.
On Wednesday and Thursday, CEO Eric Lefkofsky also sold a combined 454,166 shares, half at $10.27 a share and the other at $10.60. Following the transactions, Lefkofsky still owns a majority 108.9 million shares.
Prior to the declines Tuesday, shares of the Chicago-based company were trading higher in November after management's turnaround plans whet investors' appetites. During a post-earnings conference call, Lefkofsky detailed how the e-retailer was repositioning itself as a deals search engine.
The stock has climbed 104.7% year to date, leading the S&P 500's 25.57% gain. Discount competitor RetailMeNot
--Written by Keris Alison Lahiff.