Groupon's share price shot up almost 40 per cent in its first two hours of trading today. The daily deals site stock went up to $27.85 by 11am EDT – up from the initial public offering share price of $20 – after nearly hitting $30 earlier in the morning. If the stock stayed there, it would mean the company had gone from being …
What is wrong with people? It's a dot-com bubble all over again. Groupon take 50% from the price of the 'voucher' and have still managed to post some eye watering losses (once you adjust for their creative accounting practices). From what I hear retailers who have taken part are wishing they hadn't since the customers are only in it for the deal and never come back again.
Facebook and Google are worth billions. Groupon is not.
get the soup on
A lesson in how to lose all your money folks.
Only way is up ... for now
It appears to be impossible to short the share right now, so I'm not surprised it's going up. As soon as it's possible to short it'll drop like a stone I'm sure.
"CEO Andrew Mason can be seen on Twitter celebrating that particular moment with a glass of bubbly"
Yeah I seem to remember certain personage called Lane-Fox going all gooey with the champers when her doomed-to-languish venture hit the highs and then slowly sank back down after every one woke up and finally realised how flipping stupid they'd been!
This should be fun to watch
No popcorn icon... I'll have to make do with a beer then.
Pump and dump on an epic scale?
I guess this is what you get when the fed prints oodles of dollars and gives them to banks who could be lending them to people and businesses instead. Nothing like a post-launch rally to drag the suckers in. P/E on this one, anyone? My calculator broke down trying to do it. Maybe this is just sour grapes because I didn't "get in" on this one. I'm just very worried that my bank might have done so for me. :-/
SOMEONE WILL MAKE LOTS OF MONEY....
In the short term, a lot of people will lose a lot of money on this in the long term.
Such a flawed business model,
A business needs to sell a product for more than it cost to make or provide, if not it crashes.
These give aways are not sustainable in the long term and Groupon customers are only in it for the discount. They won't hang around if it means paying full price. No repeat business ever.
Party like it's 1999!
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