Nearest Resistance: $5.50
Nearest Support: $3.75
Catalyst: Earnings Miss
>>5 Stocks Set to Soar on Bullish Earnings
(GRPN - Get Report)
missed earnings -- quelle surprise. Shares of the social deal stock are down around 20% as I write following a 1-cent loss for the fourth quarter and a less than amazing outlook for the quarter ahead. Let's be clear, Groupon hasn't exactly been a bastion of fundamental strength since it went public in late 2011. That said, the amount of negative surprise we're seeing in shares today is, well, surprising.
More significant is the technical outlook that this stock is now showing off. Groupon gapped down hard this morning, shoving its way down through a handful of weaker support levels. In short, this stock is having some serious trouble catching a bid. Investors looking for a "bargain" to buy GRPN need to look elsewhere.