NEW YORK May 14 Shares of Zulily Inc
shot up 9.6 percent to $35.07, reversing course after dropping
to an all-time low earlier following the possible expiration of
its lockup period.
Traders said short-covering likely bumped up the stock after
it hit a low of $28.75. The shares traded as high as $36.37.
The company said in its most recent filing with the SEC it
anticipated shares will be sold into the public market as
"As of March 30, 2014, approximately 110,915,025 shares of
Class A common stock issuable upon conversion of outstanding
Class B common stock will become eligible for sale into the
public market, subject to compliance with applicable securities
laws, upon expiration of the underwriter lock-up agreements
expiring in mid-May 2014."
The stock opened at $39 in its debut on Nov. 15, above its
IPO price of $22.
(Reporting by Caroline Valetkevitch; Editing by Chizu Nomiyama)