Pretty classic case of 'the blame has to land somewhere' after their abysmal performance since IPO. Considering the stock price/performance vs. expectations investors see any change as positive.

I doubt you can attribute any dramatic rise in after hours stock price to actual 'investors' deciding to place buy orders seconds after hearing the news.

The after hours action is most likely driven by the many algorithmic trading systems making trades based on news flow.

In other words, we'll have to wait for some rational period of time before deciding if traditional buy and hold investors are excited by this change in leadership.

It was already down 25% for the day.

GRPN appears to have dropped more than 75% over the past couple of years. Barring some very unusual circumstances, that seems like a compelling argument for a change in leadership at any business.

They've only turned a profit once since going public and the stock is down over 75% since then.

Should have taken the $6 billion buyout from Google when they had the chance.

Honestly, it all doesn't really matter after their IPO revealed bonuses were more important than investing into their business.

I think investors are just desperate for any signs of change. This is one such sign.