It’s crunch time for Groupon (GRPN). The roadshow for the company’s Initial Public Offering went live last week, and Groupon’s offering will happen this week. Demand for the shares is apparently through the roof. The company was hoping to sell 30 million shares at $16 to $18 each, but word is that Groupon is now looking at increasing the offering price.
I’ve written plenty here about perpetual money-loser Overstock.com (NASDAQ:OSTK) and its wacky CEO Patrick Byrne. Unfortunately, I’ve mostly lost interest in the topic. Why? It’s the same old, same old.
Overstock.com continuously loses money for shareholders. Byrne pretends that profits are right around the corner. More money is lost. Dishonest accounting tricks are used to pretend the company made money. Financials are restated. More money is lost. Financials are restated again. More money is lost…
You see a pattern, I hope? Read More