Suprised? Three Weeks Later, Groupon?s Stock Plummets Below IPO Price

You don't need to work on Wall Street to have seen this one coming: Today, for the first time since its NASDAQ debut on November 4th, Groupon has fallen below its IPO price, which initially placed the company's stock at $20 per share. The company's stock opened (at first trade) at $28 per share, with a market cap of $17.8 billion. It's currently hovering at about $17.30 per share, down nearly 14 percent on the day. The daily deal behemoth's stock has been on a three-day slide, and this marks the third day in a row of double digit declines. This came after the stock hit its all-time (really, all-month since IPO) high on Friday at $26.19 per share. Welcome to the public markets, Groupon.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/Gmn9v3AR56Y/

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