Only weeks after its triumphant initial public offering, it appears daily deal trailblazer Groupon has fallen out of investors’ good graces. Its stock price has plunged 15 percent, with shares hovering near their IPO average of $20 or so per unit. In the months leading up to its IPO, Groupon experienced a similar slide in investor confidence as it morphed from golden child to the symbol of everything that is wrong with tech stocks. It then redeemed itself the day it went public, with shares trading as high as $30 at one point.
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Groupon Hits a Speed Bump
Posted by: Erika Morphy November 23, 2011 05:00 AMOnly weeks after its triumphant initial public offering, it appears daily deal trailblazer Groupon has fallen out of investors’ good graces. Its stock price has plunged 15 percent, with shares hovering near their IPO average of $20 or so per unit. In the months leading up to its IPO, Groupon experienced a similar slide in investor confidence as it morphed from golden child to the symbol of everything that is wrong with tech stocks. It then redeemed itself the day it went public, with shares trading as high as $30 at one point.