GRPN is now officially toast:
Groupon stopped short of giving the SEC any exact financial numbers about such offers, saying that “the company does not believe that separate discussion of financial metrics related to these channels is material to an understanding of the company’s business or financial results. Therefore, the company does not believe that separately disclosing quantitative information about revenues, margins, operating income [or] loss, and refund reserves for deals attributed to channels would be meaningful to investors.”
I sold all my shares at a whooping loss of 38%, I owned 3,800 shares. I guess tax write-off. All my shares were purchased in the higher 5s. Nokia has done this to me before, recovered from that loss but now this again, I know i am whinning, but you can understand. I imagine the loss of 38% is better than lossing 50% to 80% which is coming soon.
penny stock in the making.....told you this will be a American Greed story soon. Morgan Stanley should be brought up on charges for fleecing america along with Eric and Andrew!
Sentiment: Strong Sell
Sorry to hear that. What a shame. Many were duped and too excited about these no product web companies like GRPN FB ZNGA LNKD ETC. I ducked all of these but still feel bad for those duped.