CEO Andrew Mason Believes Future is Bright For Groupon
At an investment conference yesterday, Groupon Inc. (NASDAQ:GRPN) CEO Andrew Mason gave a bold outlook for his company.
Now that the IPO quiet period has ended, Mason spoke in a no-holds-barred manner and proclaimed that Groupon has “hit an inflection point” relative to its competitors, according to a MarketWatch story. He added, “There’s no question the barriers to entry to this business are low. The data shows with equal certainty that the barriers to success are quite high.”
Groupon’s CFO Jason Childs chimed into the conversation and noted that from the company’s heavy marketing investments, it will reflect revenue growth as opposed to any subscriber growth.
Prior to the company’s presentation, its shares closed up 9.31 percent to $17.50 — below its $20 IPO price. LinkedIn (NYSE:LNKD) and Angie’s List (NASDAQ:ANGI) are also hot IPOs that have sunk below their offering prices.
Here’s how Groupon is trading now:
Groupon Inc (NASDAQ:GRPN): GRPN shares recently traded at $18.50, up $1, or 5.71%. They have traded in a 52-week range of $14.85 to $31.14. Volume today was 375,752 shares versus a 3-month average volume of 6,061,130 shares. The company’s trailing earnings are $-2.17 per share.