Will scale into it gradually. Glad it is finally at a price that I am excited about buying. 5K @ $3.29. Almost 50% of the market cap is in cash. No debt. Positive cash flow. Asset light capital efficient model. Dominant in the service oriented local commerce arena.
I added yesterday at an effective price of $2.55 via selling LT puts. I'll add more if it hits $2.50. Not worried. I use ridiculous short term overreactions to take advantage of herd behavior. In the long term, I profit.
From the outset, I said I was targeting 20K shares and bought 5K at $3.30 (actual execution was $3.29). None of your taunting nor the short term price moves bothers me. I stick to underlying fundamental economic value capture. GRPN will be a good investment at these levels. AMZN will be a disaster as a long position.
Techstrategy wrote: "Sybs: I know what I am doing. Not worried about it."
Yeah, the only thing you know is to add to your losing positions. Of course, you're not worried about it because you're too dumb to realized how stupid you are.
I have many faults in this lifetime, but being stupid simply isn't one of them. You conflate short term moves with being right or wrong. It is the reason I make do so well over the intermediate to long term. Your little brain is too small to be able to comprehend how the system will evolve...
Techstrategy lost 16+% in less than 24 hours.
After careful, thorough analysis of GRPN's fundamentals!
Time to add more, tech! You're good at adding to your losing positions!
Geeg my friend, you have no clue. But, you are a useful contraindicator on medium to long term direction...
GRPN will outperform AMZN over the next 12 months (not a hard call since virtually anything will outperform AMZN over the next 12 months....).
I did just fine on my long positions today.... I only buy crazy overextended stuff. FYI, Groupon will actually do well when things get really tight. It will far less people intensive in the future once the vendor relations are all established and people are trained on creating offers/campaigns. It is now making money on the transactions and has about 40MM customers. Half of its market cap is now cash... Plus, I only bought 5K shares.
I'm net short in a massive way. But, I'm always both long and short (based upon what is overextended in each direction) just in case. And, I'm playing for the longer time horizon with GRPN. If they were willing to sell to Google, I suspect Google would still buy them at a significant premium to the current stock price. They are onto something much more significant and distinctive than AMZN... Amazon realizes it too, which is why it invested in Living Social (but GRPN is light years better)...
Happy to lose short term. I will win long term.