Yesterday, Groupon stock closed at $10.71 per share, down 66% from its post-IPO high of $31.14. Groupon’s IPO originally priced at $20 per share. It has lost almost half its share value since last their IPO last November.
Our question is this. Should Groupon now do its own Groupon? After all, their core sales tactic is to approach ailing businesses and convince them that giving away a product or service will somehow drive success.
We just wonder if Groupon is a subscriber to their own service.
As reports circulated before the close that Starbucks CEO Howard Schultz was leaving Groupon’s board, Groupon [GRPN 11.045 0.335 (+3.13%) ] dropped below $11. It closed at $10.71 on Monday, its lowest level since its IPO back in November. That’s roughly a 66% discount to its all-time intra-day high of $31.14 on the stock’s first day of trading and nearly half off its $20 initial offering price. Groupon later confirmed that Schultz was in fact leaving the board. At $10.71, Groupon is now nearly half of its IPO price – this as the lock-up expiration date approaches.