Today in Connected Consumer

Hard times for tech stocks continue on Wall Street. Facebook shares reached new record lows in midday trading as the post-IPO lockup period came to an end today, allowing insiders to sell. Short sellers are now circling the stock, which could presage further downside pressure. Groupon shares, meanwhile, slipped below $5 for a time as their downward march continues unabated. Shares of Angie’s List also plunged this morning as the 90-day lockup period following a secondary offering expired. Zynga’s shares dropped below $3 this morning as the company turns its attention to lobbying for approval of online gambling in the U.S. Tech stocks themselves are looking like the biggest gamble at the moment, however.

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Paul Sweeting

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