Groupon Shares Pop 40% on Debut
The internet-coupon site Groupon (NASDAQ:GRPN) is being put to the test this month as they attempt to begin selling more shares. In mid-October chief executive and founder Andrew Mason faced a tough crowd of potential investors who showed skepticism, questioning the company’s management and accounting models.
Yet Mason told his audience that Groupon (NASDAQ:GRPN) has only seen the beginning of growth in a market “measured in billions of dollars.” The results were better than he could have hoped, and on Thursday the company saw 10 times the number of orders for available shares. Groupon also offered its share prices at $20 a pop—about three dollars more than anticipated.
While some investors are concerned about the company’s management, in an interview with Yahoo Finance, David Scwartz, fund manager for DAZ Capitol, stated “that was some concerns before the road show, but I’ve been in this business since 1986, and I can tell you when a deal is really hot and this is a hot deal.”
- Groupon, Inc. (NASDAQ:GRPN): The shares recently traded at $26.10, up $6.1, or 30.5%. Its market capitalization is $. They have traded in a 52-week range of $N/A to $. Volume today was 22,943,546 shares versus a 3-month average volume of N/A shares. About the company: Groupon features a daily deal on the best stuff to do, see, eat, and buy in 43 countries, and soon beyond. The company has about 7,000 employees working across its Chicago headquarters, a growing office in Palo Alto, CA, local markets throughout North America and regional offices in Europe, Latin America, Asia and around the world. Get the most recent company news and stock data here >>
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