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What: Shares of online deal wrangler Groupon
So what: Groupon shares skyrocketed from the $20 IPO price to more than $28 on opening day, and have been in decline ever since. When the $20 IPO level was breached last night, investors got over a psychological barrier and accelerated their selling some more.
Now what: We're still nearly two months away from Groupon's first quarterly report as a public company, wherein we'll learn a lot about management's mettle and the long-term success (or lack thereof) of its coupon-printing strategy. Until then, I simply don't understand how Groupon hopes to ever make a profit without scaring off those crucial retail partners -- I wouldn't buy this stock at any price. Fellow Fool Jeremy Phillips thinks that LinkedIn
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Fool contributor Anders Bylund holds no position in any of the companies mentioned. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.