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It's a rare double-digit day for
GRPN) today -- at least as of this writing -- following an earnings beat for the first quarter of 2013. Groupon has been a perennial underperformer since its IPO in late 2011, and the 76% decline in the stock's price since going public is proof of that. But the 3 cents per share that the firm earned for the quarter bested investors' expectations, and that's all it took to spur a move higher in the stock.
It's a little too early to call today's price action the start of something. From a technical standpoint, today's 10% jump higher isn't particularly important -- shares are still sitting in between resistance at $6.50 and support down at $5.25. And with GRPN's price fading this afternoon, I wouldn't exactly recommend throwing money at this stock right now.
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