This insider selling news has been used to scare weak hands. I am sure that the next close below 9 is going to get the Chartists out with H&S bearish sign. But that would be the day to buy. I will be. Sell me some when u are leaning into the short.
It popped because once the news got digested, it is very bullish. Moreover, the fears of revenue down 10% by an analyst was not factually true. In fact, billings are up 10%, the analyst had called for a 10% decline. This stock should get back on the upward trajectory soon. Prior to the analyst comments, this stock was around $11.50. Moreover, GRPN is now showing that it can manage its earnings and sustain it too. They are now making acquisitions that will add to the bottom line. Paying $250 million for $100 M in net revenue is not a bad deal at all. It is a great deal to pay 2.5x sales for a growth market. All in all, very bullish for the stock. After hours, 600,000 shares took down the stock from 10.50 to 9.50. Prior to that 8.4M shares were traded. That tells me that most of this AH downtrend is a bear trap!!