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How about GOOG, PCLN, RHT, AMZN, BIDU and all the 1000s of stocks (even NFLX) trading above their IPO prices!!Do you ever think LONG TERM?
But those businesses are real?
People have said AMZN, PCLN etc. are also not real and sold them to me under $10 in 2000 / 2001!. Thanks to those guys!!What makes you think of a company that had over $1 Billion in sales (over $2.5 Billion Gross Billings) in record time in the history of mankind as not real.One can question the current valuation and decide to go long or short ... But nothing this company does make me think the business is not real.This company is the LEADER in local ad space and LOCAL is where over 70% of the consumer spending (a few trillions in the US) happens!If this company were not real, answer these to yourself -a) Why did GOOGLE wanted to buy this company?b) Why a smaller player with 1/3rnd market share LIVING SOCIAL raising funding with $6 Billion valuation http://www.cnbc.com/id/45361575If a second tier company with 1/3 market share is valued at $6 Billion - then what should GRPN be valued at? at least 3x that .. or even higher?. If Living Social is $6 Billion, GRPN could be at least $30 Billion as the industry leader in the space?
It's not, really. Naked shorting is the biggest scam on WS, actually. Illegal, but overlooked. Low float IPOs are just a legal dirty trick (they disclose the low float to begin with, so you kind of go in knowing to expect a squeeze. Some people/institutions even bet on the squeeze happening.)