zulily shares down 5% with lock-up date approaching zulily (ZU) opened for trade on November 15, 2013. According to its filing, as of September 29, 2013, approximately 110.57M shares of Class A common stock issuable upon conversion of outstanding Class B common stock will become eligible for sale upon expiration of a 180-day lock-up period. That 180-day lock-up period is set to expire next week. PRICE ACTION: Shares of zulily are down 5.2% to $31.28 in late day trading.
zulily downgraded to Neutral from Buy at Goldman Goldman downgrade zulily to Neutral and lowered estimates below consensus given difficult comps and vendor checks and third party data that suggests continued softening of demand. The firm maintained its price target of $16 on shares.