Groupon investors race for the exits as lockup ends

Groupon shares dropped to a new all-time low today as its lockup ended, releasing a torrent of new shares onto the market. Thirty minutes into the trading session, Groupon had already traded 75% of its average daily trading volume. This was Groupon’s third highest volume trading day. (Disclosure: I have various puts against Groupon.)

Hey, doomsayers, Facebook will do much better than you think

With Facebook’s highly anticipated IPO just a couple of days away, the press has been covering all kinds of depressing opinions from skeptics, naysayers, and suit-wearing Wall Street executives. Yes, it’s important to play devil’s advocate and look at the Facebook IPO from all sides, but don’t let the tidal wave of doom-saying drown out the obvious: Facebook has a lot of trump cards left to play.

Who is to blame for the Groupon fiasco? Everyone

We’ve heard quite a few opinions about who’s to blame for Groupon’s IPO fiasco ever since the company announced a restatement of its earnings last Friday and indicated that it had material weakness in its internal controls. Andrew Ross Sorkin of The New York Times blames greedy tech companies. Sarah Lacy of Pando Daily blames greedy Wall Street bankers. They’re both right — and they’re both wrong. The blame for this fiasco can be spread far and wide.