Europe is putting big pressure on the US equity market. In fact, the close to close activity looks much more benign, I think, than the intraday selling. After watching the most overvalued security in the world, the TLT, trade to a new high for the year (and it could go higher as the Greek electorate figures out what happens after they get to replace their shiny Euros with TP), I looked at revisiting GRPN just post-earnings. A few things were bothersome about the activity today.
First the stock opened strong on better than expected earnings (more revenue and smaller losses), close to $14.97 and then proceeds to sell off with hasty abandon after the shorts covered. That is not a good sign for a stock.