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Groupon Inc. (NASDAQ: GRPN) made a huge splash when it debuted back in November 2008. Its timing was right on the money: It was a big, new money-saving "get coupons on the Internet" idea that hit consumers just as the worst effects of the 2008 crash were beginning to set in.
The very first deal they offered was a pizza twofer at the Motel Bar, a restaurant downstairs from the Groupon offices in Chicago.
When GRPN stock went public in November 2011 at $28 a share, it was – no kidding – the biggest Internet IPO since Google. It ended its first trading day worth a little more than $16 billion.
The stock went ballistic for a few months, up to an intraday high of around $622. The good times, as we know, didn't really last all that long.
Last week, I was talking about shopping with my wife, and she said, "Hey, remember Groupon?"
About the Author
Tom Gentile, options trading specialist for Money Map Press, is widely known as America's No. 1 Pattern Trader thanks to his nearly 30 years of experience spotting lucrative patterns in options trading. Tom has taught over 300,000 traders his option trading secrets in a variety of settings, including seminars and workshops. He's also a bestselling author of eight books and training courses.