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Monday, November 11, 2013 7:47:25 AM
In the after hours on Thursday, some investors couldn't dump Groupon fast enough after the company reported earnings..
"The stock dropped a dollar off a $9.90 basis as traders took one look at Groupon's quarter and decided that the bloom was off the rose and it was time to skedaddle," said Cramer.
However, had those sellers waited for the conference call, they would have heard every reason to buy – not sell.
The company talked about progress made in the portion of the business that sells deals through its smartphone app. Also, Groupon had positive comments about its acquisition of Asia-based e-commerce company Ticket Monster, for $260 million in cash and stock.
"Ticket Monster has been successful building a mobile commerce business in one of the largest markets in the world. It will serve as the cornerstone of our Asian business, bringing scale and e-commerce expertise to that region," CEO Eric Lefkofsky said.
The Mad Money host thinks both developments are signs Groupon is aggressively advancing its long-term mobile strategy – and, if anything, that's a compelling reason to put money to work, not cash out.
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