Groupon in Plunge Mode! Falls 12%

Is Groupon

going to pull a E Commerce China Dangdang

, which went public in December 2010, was billed the "Amazon.com of China," and has subsequently fallen 85% from where it began trading on the NYSE? That outcome would obviously be extreme, but the stock has been getting pounded over the last couple of days and is basically back to its IPO price. Shares fell 10% on Monday and have lost 11.64% on Tuesday to $20.84. The IPO price was $20.00. This is the lowest level for GRPN since it started trading on November 7, opening at around $26.00. Up until yesterday, GRPN had been holding steady in the mid-$20 range. In fact, shares hit a closing high of $26.19 on Friday before the decline began this week. Volume has not been terribly heavy, and given its recent IPO status and internet-based business model, the volatility should not be that surprising. Nevertheless, shareholders cannot be pleased. Despite the company's lofty 13.22 billion market cap, GRPN has not really provided the sizzle that the tech market could use, and at this point anyone who bought shares in the open market and did not get it at the IPO price is underwater. As GRPN pushes closer to $20, however, one would expect that buyers may view it as a great opportunity to snatch up shares of the most highly anticipated IPO of the year at its original deal price.