HOUR - E-commerce platform Hour Loop stock sinks 18%

Online marketer Hour Loop (HOUR) saw its shares tumble 18% Friday afternoon. Shares of the company recently changed hands at $3.27, down 18%, at approximately 3:20 p.m. ET. The stock opened at $3.88 and hit a high of $3.99 in early trading before sliding to a low of $3.22 in late afternoon. Approximately 20% of the stock’s float is held by short interests, according to SA data. Hour Loop specializes in selling gift items such as figurines, cookware and toys on-line. The company generates most of its revenue as a third-party reseller on Amazon and Walmart.com. It also sells merchandise through its website hourloop.com The e-tailer went public on Jan. 7, with the stock hitting an all-time high of $10.33. The stock trended downward soon after, reaching a 52-week low of $1.88 on Feb. 24.  The company priced 1.5M shares at $4 per share for its IPO, raising $6M.

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E-commerce platform Hour Loop stock sinks 18%