Groupon’s IPO Goes Up 30.55% in First Day After IPO
Groupon.com traded up GRPN goes up 30.55% in the first day of trading. At one point the stock was up to 31.14 (+55.7%), but later retreated to finish the day at $26.11. I recently wrote about this IPO stating that I believe it should be avoided, and I stand by what I said. This company is not generating enough revenue to possibly justify this valuation. This is 100% speculation (until proven otherwise through revenue). After all of the hype build up, I will be considering a short of this stock, simply because the fundamentals of this stock are so weak.
It’s good to see gambling is alive and well in the stock market.
Filed under: Investing
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