So yesterday, when the price was down around $13.80, I called it that today the price could spike up first thing (possibly to $16.80) and actually end the day green. As unbelievable as that call was, it came true.
The only issue now is that it did indeed push up over the existing resistance line. This basically pushes it up a bit to $17.88 right now. (but it could be pushed higher first thing Monday.)
As always, things like this can happen when there are 3 pumping articles in one day...and involving a site like TheStreet that people see as credible. ...although, it was just an article from an under-informed, pump article copying, contrarian writer who got some of the basic things wrong.
As I stated before, LiveDeal is not done at least attempting to do anything they can to push the price up pre-split. I expect more articles next week focusing in on the split.
These green days will happen here and there on the way down no matter what. We will have to wait to see what will happen next week. At least post-split, we will no longer have to think about the split. This should free the stock up to go down again. Usually after a split, a stock will go up or down based on fundamentals. We all know they suck according to the last 10-K. I can't wait to see the next quarterly report.
I just want to point out that thestreet is a perennially money-losing operation ($150M in NOL's) that probably rents out their pages for some extra income. This 'Christine Andrews' is some kind of pseudonym since she doesn't exist in a google search and no hedge fund analyst flies that far under the radar. And the article 'she' wrote was laughable (yeah LIVE's gonna eat GRPN's lunch and I'm going to become the first jewish Pope).
Conclusion? It was a paid pump piece.
btw- we'll have a clear look at their financials by next Friday when their first quarter 10Q is due. Bloodbath to ensue.