Below $5 for the first time almost ensures a bounce back due to the nature of shorting stocks. Don't know if it goes to 4 1/2 or 3 1/2 before getting that bounce, but one is almost certainly coming even if the trend remain down. I'm looking at GRPN closely - maybe Monday will be a good day to go hunting.
You are probably correct. I covered a lot of my shorts today as my goal was breaking the 3B cap.
I do see them firing the entire management team and all directors as that's the only way this works. There are several articles of conflicts of interest that GRPN does business with the Russians businesses. The problem is their BS accounting and the fact anyone can start the same company with the same ideas. No intellectual rights.
Yeah, yeah, yeah...anyone can start any business. You can open a burger joint tomorrow, so McDonald's is doomed. Right?
Groupon is synomoumous with online couponing, and they are the best at it...that has value! Groupon has a large user base...that has value! Is Groupon worth $25 per share, no! But $5 per share ($3B market cap) seems oversold to me. Facebook, Amazon, or Google will buy them.
BTW...if Groupon has no value, why did Google (with all their genius programmers) want to buy Groupon for $6B?
It would not have been that bad if our hedge fund manager did not send his henchmen in to spoil the day. Hopefully, the stock and Mason can move on from this nonsense to look forward to the future.