A Groupon for stocks?(Read article summary)
Traders and investors around the country could buy discounted shares in the same stock.
Courtesy of Groupon.com
Hi, I'm Josh Brown.
When I'm not leaning against wet paint, singing Def Leppard songs in the shower or drinking diet ginger ale, I think deeply. And out of the million or so instances in which I am in deep thought, every once in a while, something interesting and possibly actionable comes out of it.
My latest idea is for a Groupon-like service in which traders and investors across the country can band together and be issued deeply-discounted shares in a stock.
Imagine an email inviting you to grab a quick 7% discount on shares of Nvidia ($NVDA) or Tractor Supply Co ($TSCO)? And you didn't have to be the full price-paying client of a certain broker or at a Connecticut hedge fund or little Scotty Blankfein's college roommate (made him up, but you know).
It would almost be like a reverse secondary offering:
1. The network is in touch with a bunch of small to mid cap companies
2. These companies are not necessarily looking to do an actual secondary offering, but would be interested to offload treasury stock or shelf offering shares (but without the hassle of regulatory filing or the typical 10% i-banker fees)
3. Offers are put out to everyone on the network with a specific discount to market price - take it or leave it, first come first serve