Well what can you say, for a 3 year old company to be valued near $20B is one amazing thing.  Keep in mind Google (GOOG) made an offer for Groupon (GRPN) at approx. $6B just over a year ago.  This is another tiny float winner, with less than 5% of shares available to the public and the feeding frenzy has moved the stock price from an offering of $20 (which valued the company at $12.7B) to an open

With many of its business metrics already slowing, my bet is Groupon is going to be the short of the year in about 24-36 months.  But we need to see a lot of shares come unlocked before any form of reasonable market can be made in the stock.  Of course 24 months might as well be the year 2087 for a stock market where 'long term' = next week.

EDIT 10:56 AM - Now a >50% pop, at over $30 a share....

Meanwhile back in the real world, Italian 10 year yields just hit 6.4%.....

No position