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As if trying to make up for last week, shares of Groupon, Inc. (NASDAQ:GRPN) traded up over 20 percent on relatively heavy volume in the late afternoon on Friday. In the absence of direct catalysts, investors and observers have been left to speculate…
Does This Look Normal?
Here’s a snapshot of Groupon’s stock price movement on December 7:
It’s like a flight of stairs with a poor run-to-rise ratio that leads straight to recovered losses for institutional investors, who own over 50 percent of Groupon’s stock. Friday’s surge makes Chase Coleman, the man behind Tiger Global Management, which recently disclosed a 9.9 percent stake in the company, look pretty good (or, even better).
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Just about one month ago, on November 8, Groupon released fourth-quarter 2012 guidance that came in below analyst expectations, and the stock took a nose dive. Shares fell nearly 30 percent in a single day, and bottomed out at 52-week lows of $2.60 two days later…
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