This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Groupon Goes Public: Tech Weekly Recap

NEW YORK ( TheStreet) -- Groupon (GRPN - Get Report) made its eagerly anticipated debut as a public company on Friday, enjoying a pop as investors bought into its IPO.

Despite recent criticism of Groupon's accounting and concerns about the firm's ability to turn a long-term profit, the shares soared 40% at market open.

Groupon had priced its offering at $20 late on Thursday, above the range of $16 to $18 it had initially sought. The offering valued the company at nearly $13 billion.

Groupon's stock opened at $28 a share on the Nasdaq. The shares then hit a high of $31.14 during the day's trading and eventually closed at $26.11, a 30.55% hike on the offering price.

> > Bull or Bear? Vote in Our Poll

One of the biggest challenges looming on the horizon for the newly public company, however, is increased competition from the likes of Google (GOOG), Amazon (AMZN) and LivingSocial, as well as a slew of smaller firms. Groupon has also gone public at a time of uncertainty in the global economy.

The worlds of technology and entertainment combined in somewhat bizarre fashion on Tuesday when Pete Townshend took a big swing at Apple (AAPL - Get Report).

Speaking at a lecture organized by the BBC, The Who guitarist described Apple's iTunes as a "digital vampire" that "bleeds" new artists instead of helping them build their careers.

The iconic musician urged Apple to help nurture emerging artists by providing A&R services, as well as computer hardware and music software.

Apple shares ended the week down $2.83, or 0.7%, at $400.24.

HP (HPQ - Get Report), after spending the last few months frightening the life out of investors, took a big step in the right direction on Tuesday by becoming the first major server player to support ARM's (ARMH) low-power chips.

A semiconductor star, ARM's technology has typically been found in smartphones and tablets, although HP will use the chips within a soon-to-be-launched server technology called Redstone.

HP's stock closed up 13 cents, or 0.48%, at $26.97 on Friday.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $110.38 0.00%
CSCO $25.76 0.00%
GRPN $3.41 0.00%
HPQ $26.07 0.00%
LNKD $189.21 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs