Recap: GRPN

In September, I updated the short thesis on GRPN ($4.82 at the time)
http://leverageforthought.blogspot.com/2012/09/why-grpn-is-even-more-of-short-now-than.html

Since then, GRPN has fallen from $4.82 to 2.70 (~44%) after a disastrous Q3 earnings report (http://seekingalpha.com/currents/post/654611).

Here's the full release.

Besides the revenue growth of 32% yoy & 27-37% next q guidance, the specific catalyst was the tepid 12% growth in international business. Growth is not meeting expectations, while bottom-line earning (negative) because of stock-compensation/acquisition and marketing expenses.

I unfortunately closed the short too early ~4.40 because wanted to switch to different short (NOW/SPLK), but at these levels I would have closed 50%+ of the position otherwise. Next time, will scale out.

-Stanley